Google’s Physical Card Likely to Have a Chip
Google’s physical card is going to be co-branded by many financial institutions and will contain a chip. At present, Citigroup and Stanford Federal Credit Union are the two financial institutions that are mostly confirmed to be included in Google’s physical card project. Google’s aim with this card is to make it the base or foundation of the company’s Google Pay, an online mobile payments service. At the same time, Apple’s credit card project is backed by companies like Goldman Sachs and Mastercard. There is one drawback with Apple Card’s though; there are no rewards or cash-backs for any spending or purchasing.
Tech Giants Looking To Cash-In On Financial Markets
Tech giants are on the move for creating financial services. Apple launched Apple Card in August, last year. Now Google is coming out with its card. At the same time, the social media giant, Facebook is also working on creating its financial product named Libra. It is a cryptocurrency. Facebook is trying to create a similar product such as PayPal, but it will be only for cryptocurrency. Google’s physical debit card would be a rival to the Apple Card, or not will only be apparent with time. But for now, there are no indications from Google for creating a credit card. Google has said that it will reveal more information about the same in the coming few months.
