Google could take on a new financial role in your life with a smart payment card, with leaked images reported by TechCrunch.
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iPhone NFC setup #shorts
Details: The images point to both a physical and virtual payment card, which can let you buy things via Google Pay, a physical card and online. There are also images of a new Google app that will let you see what you've bought, check your balance and maybe even lock your account with a tap. TechCrunch says the Google Card will co-brand with various banking partners such as CITI and Stanford Federal Credit Union.
What then? Until now, Google Pay can only work online or peer-to-peer with a connected personal debit or credit card, as Apple Pay does without the Apple Card. Adding a financial instrument makes sense for Google to enter the financial arena.
Fintech: As TechCrunch points out, everyone wants to be a financial institution. However, Google's leg up against the competition is its connection to huge data. It can help manage risk in a way that other banking firms, even Apple, cannot.
