Google is working on a physical and virtual debit card, according to images that have been leaked to TechCrunch.
The card will be linked to your checking account, letting you purchase things in person, online, or via mobile phone. It connects to a Google app that can be used to monitor purchases, check your balance, or lock your account. The company is partnering with various banks on the cobranded card including CITI and Stanford Federal Credit Union.
Launching a debit card would greatly expand Google Pay's potential, allowing it to better compete with Apple and its Apple Card.
By building a smart debit card, Google has the opportunity to unlock new streams of revenue and data. It could potentially charge interchange fees on purchases made with the card or other checking account fees, and then split them with its banking partners. Depending on its privacy decisions, Google could use transaction data on what people buy to improve ad campaign measurement or even targeting. Brands might be willing to buy more Google ads if the tech giant can prove they drive a sales lift.
TechCrunch suggests that a Google debit card could provide the company with a path to banking, stock brokerage, financial advice, accounting, insurance, or even lending services.
Check out the card and app designs below. Please note that they are not considered final and it's unclear when Google plans to launch the card. You can download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for updates.
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The card will be linked to your checking account, letting you purchase things in person, online, or via mobile phone. It connects to a Google app that can be used to monitor purchases, check your balance, or lock your account. The company is partnering with various banks on the cobranded card including CITI and Stanford Federal Credit Union.
Launching a debit card would greatly expand Google Pay's potential, allowing it to better compete with Apple and its Apple Card.
By building a smart debit card, Google has the opportunity to unlock new streams of revenue and data. It could potentially charge interchange fees on purchases made with the card or other checking account fees, and then split them with its banking partners. Depending on its privacy decisions, Google could use transaction data on what people buy to improve ad campaign measurement or even targeting. Brands might be willing to buy more Google ads if the tech giant can prove they drive a sales lift.
TechCrunch suggests that a Google debit card could provide the company with a path to banking, stock brokerage, financial advice, accounting, insurance, or even lending services.
Check out the card and app designs below. Please note that they are not considered final and it's unclear when Google plans to launch the card. You can download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for updates.
Read More