Google could play a new financial role in your life with a smart debit card, according to TechCrunch. Leaked images have been released.
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Details: The images point to both a physical and virtual debit card, which you can use to buy things via Google Pay, a physical card, and online. There are also shots of a new Google app that will let you see what you've purchased, check your balance, and maybe even lock your account with a tap. TechCrunch says the Google card will be co-branded with several banking partners, including CITI and Stanford Federal Credit Union.
So what? So far, Google Pay can only work online or peer-to-peer with a connected personal debit or credit card, much like Apple Pay does without the Apple Card. Adding a financial instrument makes sense for Google to enter the financial arena.
Fintech: As TechCrunch points out, everyone wants to be a financial institution. But Google’s competitive edge is its connection to vast amounts of data. That could help manage risk in a way that other banking companies, even Apple, can’t.
