Payment Methods

Google Close To Launching Smart Debit Card

To reportedly help it compete with Apple Pay and the Apple Card, Google is creating its own tangible and virtual debit cards. The card, along with a checking account that is related to it, will let users make a purchase through a card, the web or mobile phone and connects with a Google app, TechCrunch reported, citing images that it obtained.

The tech company’s debit card will have the brand of Google along with its partnered financial institution; however, it is not known what the offering’s name will be. Customers can use the connected Google app to add funds or move funds from their accounts. They can also use a PIN and fingerprint for security of their accounts.

The card in a virtual form can be used for Bluetooth mobile payments. And, for payments in apps or online, a virtual card number can be used. A customer could also lock their card and ask for a replacement but still can pay online or via phone with the virtual card number system.

And, if they think their virtual card number was stolen, they can reset it in an expedient manner. They can also lock their accounts to prevent transfers and payments if they think someone has accessed their account without permission.

Google, for its part, rolled out a Wallet debit card in 2013 before closing it down in 2016.

In separate news, Apple Card clients had $736 million in loan balances at the conclusion of September. The card is Goldman Sachs’ newest inroad into the retail consumer business after establishing its digital Marcus brand in 2016.

The Apple Card, for its part, provides users with the option to get 3 percent cash back when buying Apple services and products as well as those at other retailers. It integrates with Apple Pay and the iOS Wallet app per past reports.

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