After Apple released its credit card last year, Google appears to be following in its footsteps with a physical card to tie in with its Google Pay program. Google’s version, however, will be a debit card instead of a credit card, with the aim of exploring “smart” checking accounts. Back in November, the search giant revealed that it was teaming up with Citibank and Stanford Federal Credit Union to offer checking accounts in 2020 through a project code-named “Cache.” Customers will be able to keep their money in an FDIC or NCUA account and “benefit from useful insights and budgeting tools,” Google told the Wall Street Journal.
The new service will vastly expand Google Pay’s capabilities which currently relies on third-party providers. It could also potentially turn Google into the next fintech giant by leveraging its vast ads and search data–ranging from personalized recommendations for individuals to assessing larger market predictions.
TechCrunch obtained leaked images of the debit card which resembles a minimal design akin to the Apple Card. It also appears to include co-branding with the financial partner and a chip reader.
— TechCrunch (@TechCrunch) April 17, 2020
Google has not disclosed an exact release date but the debit card is expected to be announced with the checking account sometime later this year.
In other news, Google and Apple are working together on developing an Android and iOS tracking system for COVID-19.