Tech Giants are exploring “smart checking accounts” by teaming up with CITIBANK and Stanford Federal Credit Union so they can launch a Google Debit Card that will go with the Google Pay account.
Google Debit Card will be helping the users of Google Pay app. Google has released a statement that states that they will get “benefit from useful insights and budgeting tools”, “while keeping their money in an FDIC or NCUA insured account.”
The date has not yet been decided but it is expected that the initiative would take place by the end of this year.
Application and Designing of Google Debit Cards:
Google Debit Card will be constructed in a way that it could tie with Google Pay app and would show the spending habits of the users. Likewise, Google will come to assess the way users shop and spend.
Google comes up with the idea of Google Debit Card after Apple’s card has been successfully launched. Apple’s cards have been launched in 2019. Apple’s card offers a limited discount on the purchase of Apple’s products.
Google Pay is a competitor of Apple Pay program, since long. Both the apps let customers lead a hassle-free Life by helping to pay for goods and services almost at any location with a mere use of a smartphone. Google Pay app and the Apple pay program ties up with the bank accounts and Credit cards.
While reporting the story first, the TechCrunch has said, Google Cards “would vastly expand the app’s use cases, and google potential as a fintech giant.”
Google Debit Cards Will Help the Users of Google Pay App
Google has also confirmed to a journal “The War Street Journal” about its plans of checking accounts. The confirmation has happened in November 2019. Caesar Sengupta from Google has said, “if we can help more people, do more stuff in a digital way online, its good for the internet and good for us”.
