TechCrunch recently shared a series of images of an upcoming smart debit card that is purportedly being developed by Google. This would be the search engine giant’s answer to the Apple Card, and will supposedly work in tandem with the Google Pay mobile app.
There will be both a physical and a virtual debit card, with customers able to use the “Google Card” to make online transactions with either card. Additionally, users will be able to lock their accounts, check balances, and generally monitor card activity via the Google app.
At the moment, Google Pay works by attaching a bank credit/debit card, with only peer-to-peer payments supported. If the Google Card actually hits the market, this could be “the foundation” of a revamped Google Pay app to rival Apple and the Apple Card.
As for the physical version of the card, Google is reportedly planning to work with different bank partners in supported regions. The strategy here is to combine Google’s expertise with smart interfaces (and more) with the infrastructure and experience of partnered financial institutions to provide a comprehensive fintech solution.
Here’s a first look at the physical card:
While the fintech industry has certainly grown in recent years, traditional banking solutions such as bank-issued credit/debit cards can be cumbersome to use at times. This is where Google hopes to differentiate its service, by relying on the intuitive, easy-to-use nature of its suite of apps.
The image above suggests that the Google Card will be a Visa card, although TechCrunch says that we could still see a MasterCard version of the app when it finally hits the market. Users will be able to use the card in the same way that conventional credit cards are used—including contactless payments. The virtual card, meanwhile, can be used to make in-app or even Bluetooth payments.
There are also images of the app interface that will work together with the Google Card. Here, users can tweak the information that is shared, while there are other notification and privacy details. If a user suspects foul play due to suspicious activity on the account, the card can also be cancelled remotely via the app.
As for fees, the report says that Google could charge transaction fees from vendors and merchants, which is something that Apple does with its version as well.
The possible release of a Google-branded smart debit card would be a logical step for the tech giants to take, with Apple having launched the Apple Card in 2019. However, the Apple Card is more of a credit card—instead, the leak claims that Google’s version is a “smart debit card”.
Ultimately, it’s a move that makes some sense for the company. Google has certainly diversified into different industries at times, and fintech could be a particularly lucrative business to be in. Plus, Google has the finances, data, and user base to at least attempt a successful foray into the financial industry.
For now, it’s worth noting that these are merely leaked images, and Google has yet to officially confirm anything—although they admitted that they are exploring “smart checking accounts through Google Pay”. For now, we’ll just have to wait for an official announcement from Google.
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