According to the publication, the company is developing its debit cards in both digital and virtual forms. Google Card can be tied to the account and pay them both from a smartphone and on the Internet. The card will be issued in partnership with numerous banks, including CITI and the Stanford Federal Credit Union.
Consumers will be able to make purchases and manage card transactions in the Google Play app. The financial monitoring system will allow you to monitor expenses, check balances, block your account, replenish your account or transfer money.
In case of damage or loss of the card, the user will be able to block it in the Google Pay application and order a new one. As mentioned in previous reports, the company plans that the card will become the basis of the Google Pay application.
The company has not yet decided whether they will use transaction data for advertising campaigns and targeting. However, in the future, Google will be able to offer banking and brokerage services, accounting, insurance or lending. Google is confident that the new card will be able to compete with Apple Pay and Apple Card.