Google is currently developing a smart debit card that will rival Apple Card. According to a report from TechCrunch, it the Google-branded smart debit card helps customers track and make online and in-store transactions.
As a product under its Google Pay system, the card allows users to cash-in and transfer funds from their Google Pay account. It bears a chip card on the Visa network with Citi and Stanford Federal Credit Union as its partners. The card supports contactless payment in retail stores. It also ships with a digital card on the phone and a separate virtual card number for transactions with online retailers.
With the help of Google Maps, users can dig each transaction made, contact the retailers, and locate the store. Recent transactions are recorded in real-time, including important information such as merchant name, date, and price of the item. Should the physical card get lost or stolen, customers can use the Google Pay app to lock their cards.
Google is yet to disclose the customer loyalty program and other perks of its smart debit card. Plans for its launch and consumer release were not mentioned by the American tech giant. However, it is currently exploring possibilities to make smart checking accounts available in Google Pay.
Source: Tech Crunch
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