Google is reportedly developing its own physical and virtual debit cards as it looks to make a splash in the fintech space like Apple Card.
The internet search giant is working on smart debit cards which would link to an associated checking account will allow users to buy things with a card, mobile phone or online, TechCrunch reported.
Google Card connects to a Google app with new features that make it easier for users to track their transactions, check their balance or lock their account. The cards will be co-branded with different bank partners, depending on the users’ checking account, with CITI and Stanford Federal Credit Union.
The Google debit card will be co-branded with the logo of Google and its affiliate bank, although the exact name of the product is still undisclosed. For designs, it’s a chip card on the Visa network, while Google might theoretically help other networks like Mastercard. Users are able to move money or transfer money out of their wallet from the Google App, which is likely to be Google Pay, and use the fingerprint and PIN for account security purposes.
Google introduced a Wallet debit card in 2013 as an extension of its existing Google Wallet payment app, but it shut down in 2016.
Apple started offering last year with the Apple credit card, which is backed by Goldman Sachs.