Google is working on its own Apple Card-style smart debit card



Google is reportedly working its own Google-branded smart debit card just like Apple credit card that will help customers make and track purchases made online and in stores, according to a report from TechCrunch.

The project is meant to be a new centerpiece for Google’s existing Google Pay system, which currently only does online and peer-to-peer payments by adding a physical debit card that could be used for a wider variety of purchases. An expanded debit card presence would allow Google to be more useful in keeping track of payments and purchases, as well as provide the company with valuable insight into consumer spending.


The card will be co-branded with different bank partners, including CITI and Stanford Federal Credit Union, the report said on Friday. Although Google may expand that to other payment processors like Mastercard, too.) But much like the Apple Card, the Google debit card is designed to work as a physical card and a tap-to-pay digital card on a phone, and it will offer a separate virtual card number for use with online retailers.

Much like the Apple Card, the Google smart debit card is created to work as a physic

A “Google Pay Card” will not only make Google a fintech giant but also unlock new streams of revenue and data.


The tech giant could charge interchange fees on purchases made with the card or other checking account fees.

“Google could use transaction data on what people buy to improve ad campaign measurement or even targeting,” said the report.

A virtual version of the Google smart debit card on a user’s smartphone can also be used for Bluetooth mobile payments.

A virtual card number can also be used for online or in-app payments.

Apple Card comes with benefits like instant approval, zero fees on missing deadlines or going over the limit and daily cashback on purchases.

“For Apple Pay, revenue and transactions more than doubled year-over-year, with a run rate exceeding 15 billion transactions a year,” said Tim Cook in Apple’s last earnings call with the analysts.

TechCrunch’s report also doesn’t mention when it plans to launch the debit card or if the test will ever get a full consumer release. The company did release a statement to TechCrunch noting, “We’re exploring how we can partner with banks and credit unions in the US to offer smart checking accounts through Google Pay, helping their customers benefit from useful insights and budgeting tools, while keeping their money in an FDIC or NCUA-insured account. Our lead partners today are Citi and Stanford Federal Credit Union, and we look forward to sharing more details in the coming months.”


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