Google is planning to break into banking with new checking account offerings - Business Insider

Google Wallet into Google Pay). It also ran a site to compare financial products like auto insurance and credit cards between 2015 and 2016 but shuttered it after about a year.

Instead, Google will need to drive signups either by integrating innovative features to create an exemplary customer experience or by using incentives, such as a signup bonus. And in order to get the account to contribute to its bottom line, it will need to go a step further and incentivize users to deposit their salaries in the Google checking account and make it their primary account, through offerings like early access to wages or overdraft cushions.

Working with Google will carry some advantages for Citigroup and Stanford Federal Credit Union, as they'll gain a customer for each new consumer Google can woo to its offering.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Some Fitbit users say they're getting rid of the devices because they don't trust GooglePrivacy groups this week began pushing regulators to block the Fitbit acquisition, which the company originally hoped to close in early 2020.
Source: CNBC - 🏆 12. / 72 Read more »