Advertisement

Google Pay Card: new images leak, reveal that Google is working on a competitor to Apple's Cash

Advertisement

Published on Apr 17, 2020

Advertisement

Google Pay Card: new images leak, reveal that Google is working on a competitor to Apple's Cash

TechCrunch has obtained images that show that Google is developing their own debit cards, physical or virtual.

The Google Card and the associated bank account will allow users to purchase items with a card, phone or online. Connects to a Google app with new features that allow users to easily monitor purchases, check your balance or block your account. The paper will be co-signed with several partner banks, including CITI, and the Stanford Federal Credit Union. Users would also have a number of virtual card and a CVC code to make payments online or in-app.

A source gave TechCrunch the images, in addition to the evidence that came from Google. Another source has confirmed that Google has recently worked on a payment card, which his team hopes will become the basis of his app Google Pay – and help her compete with Apple Pay and the Apple Card. Currently, Google Pay only allows online payments and peer-to-peer network by linking a payment card issued traditionally. A “Google Pay Card” would amplify greatly the use cases of the app and the potential of Google as a giant of fintech.

Creating a debit card intelligently, Google has the opportunity to unlock new streams of revenue and data. We could potentially charge fees interchange on purchases made with the card or other commissions of the current account, and then divide it with its banking partners. Depending on its decision on privacy, Google may use the transaction data on what people buy to improve the measurement of advertising campaign or even the targeting. The brands may be willing to buy more Google ads if the technology giant can prove to lead to an increase in sales.

The vast access of Google to the data could allow them to more accurately manage the risk as compared to traditional financial institutions. His deep connection with the consumers via the app, advertising, search and the Android operating system and offers wide ways to promote and integrate the financial services. With the crisis COVID-19, which takes the form, financial products, high-margin may help Google to develop revenue opportunities-efficient and increase the price of the shares.

As a debit card, the so-called Google Card would not be a true competitor of the Apple Card, but it would have many things in common. The card Google would be more similar to Apple's Cash, which is actually a debit card linked to a bank account in-app Wallet which allows users to send and receive money with Apple Pay.

We don't know if this will actually be the final design of the card, but if so it will be very similar to the Apple Card.

It is not clear when will be the launch of the new Google Card.

 

Advertisement

Advertisement

image

Hey friend

Your blog talks about Google Pay Card: New Images Leak, Reveal That Google Is Working On A Competitor To Apple's Cash? Contact Us to be indexed in the BitFeed Network