- Tram Ho
According to a new report from TechCrunch, Google is said to be testing a Google-branded smart debit product. This product is supposed to help customers shop and track online and in-store purchases.
This project will add a new puzzle piece to Google’s existing Google Pay system. While the current Google Pay system allows users to pay online and peer-to-peer via a debit card from another bank, a Google-branded smart debit card will help users keep track of payments and make shopping easier, as well as give the company valuable data about user spending habits.
Design image of a Google debit card
If this card product comes true, this could be another step Google is learning from Apple. Like the Apple Card, Google’s debit card is designed to function as a regular physical card and has a touch-to-payment function like a digital card on a phone. Moreover, it will also provide online retailers with a number of separate virtual cards – a layer of user data protection similar to those on Apple Cards.
However, unlike the Apple Card – which is purely a credit card – Google’s payment card project is a debit card, issued through partners like Citi and Stanford Federal Credit Union. According to the design drawings, the card chip on Google’s debit card belongs to the VISA network, but in the future, Google will also support other payment networks such as Mastercard.
Users easily track payment activities as well as shopping locations.
Google’s bundled application will allow customers to easily track their payment activity – and also take advantage of both tools such as Google Maps and retailers’ databases to contact or navigate. for you to the store last time. Customers can also use the Google Pay application to lock the card in case of loss or theft, or completely lock the account.
Through Google Pay, users can quickly lock the card in case of card loss.
Still, more convenient security and payment tracking than existing debit cards are almost unique advantages for Google cards. The TechCrunch report has not yet shown that Google will offer incentives that come with this card. The use of Apple Card will give users incentives for refunds or discounts when buying applications and services on their App Store.
TechCrunch’s report also did not provide any details about the plan or when the card will be launched. Google’s comment on TechCrunch’s report said:
” We are exploring ways we can partner with US banks and credit institutions to provide smart account checking capabilities through Google Pay, helping customers benefit from spending tools.” useful spending and control, while keeping the money in an FDIC or NCUA-insured account Our key partners are Citi and the Stanford Federal Credit Union, and we look forward to sharing. more in the coming months . ”
Refer to The Verge
Following Apple’s path, Google is also preparing to launch its own chip for the Pixel
Source : Genk