The other day we reported that Huawei had followed in Apple’s footsteps by launching their own credit card called the Huawei Card. It now looks like Google doesn’t want to be left out either because thanks to a leak provided by a source for TechCrunch, Google is hopping on board the bandwagon as well.
But instead of a credit card, it seems that Google will be creating a debit card. Essentially this means that instead of being provided a line of credit by a bank, you can only spend what’s available in your bank balance (owning credit card companies money is not the best idea, anyway).
This card, according to TechCrunch, will be co-branded with a variety of different banks including Citi and Stanford Federal Credit Union. It will also be linked to Google Pay, which in turn expands the capabilities of Google Pay where users can use the physical card to make real-world purchases at stores.
The card will also come with features like monitor purchases, check their balance, and also to lock their account. Google has since confirmed the existence of the card, and state that more details will be shared in the coming months.
“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.”