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Google already has a payment platform in Google Pay, but a card would make it easier for users to make purchases physically, using the app, or online.Google is reportedly working on a smart debit card as it looks to make a splash in the fintech space – and catch Apple's lead.reports that Google is working on physical and virtual debit cards which would link to an associated checking account.
Similarly, Google's card would connect to an app and allow the user to purchase things either using the card, their phone, or online. Like the Apple app, Google's will give the user an easy way to see activity on their account. But this would also give Google the opportunity to charge interchange and other various fees, opening up new, potentially highly lucrative new revenue streams for the company.
It'll be in the market with limited features, buggy, and rarely accepted at the POS. Regardless, a diehard group of early adopters will subscribe to it any way. After three years of tepid support, Google will cancel the entire project with little fanfare.
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Source: BusinessInsider - 🏆 729. / 51 Read more »