When Apple launched their own physical credit card, the Apple Card, there was no doubt that some eyebrows were raised. It was an interesting move by the company who seemed to be diving deeper into fintech. It turns out that Apple will not be alone in their endeavors because according to leaked images obtained by TechCrunch, Google could be following suit.However, unlike the Apple Card which is a credit card, Google’s take on a physical payment card is more of a debit card, meaning that what you can buy with it is limited to how much money you have. This is versus credit cards which give users a line of credit that can be paid off the following month.
Details about the card are scarce, but presumably it will somehow be tied-in with Google Pay as we imagine that Google will probably want users to encourage the use of its payments service. Users will be able to add and remove funds where necessary, and also to lock the card with a PIN to prevent unauthorized access.
Google has since responded to a leak with a statement that reads, “We’re exploring how we can partner with banks and credit unions in the US to offer smart checking accounts through Google Pay, helping their customers benefit from useful insights and budgeting tools, while keeping their money in an FDIC or NCUA-insured account. Our lead partners today are Citi and Stanford Federal Credit Union, and we look forward to sharing more details in the coming months.”
Filed in . Read more about Google and Google Pay. Source: macrumors