Google is launching today a new financial services division in the UK. The multi-billion dollar corporation launched a new credit business that it plans to expand to other countries in the next few weeks, according to the Financial Times.
The Atlantic Wire reported the program will let businesses take out a line of credit – between $200 and $10,000 – to spend on Google’s money-making AdWords program.
Google’s treasurer Brent Callinicos told the FT that businesses just “weren’t buying Adwords as much as they need to,” and a pilot program in the United States last year showed that offering loans made customers advertise more.
Read the full story here.
