In August, Apple announced the Apple Card, its first credit card that until then is exclusive to the United States and can be requested through the "Wallet" app. Now, a new report points out that Google also intends to enter the financial sector next year, offering a checking account.
This account would be managed by Citigroup, one of the largest banking groups in the United States. In addition, the company must also include a smaller bank, the Stanford Federal Credit Union, which is used by many of its employees who live and work in Palo Alto.
The report indicates that since the account would be managed by Citigroup, Google would just be a kind of intermediary, providing customers with services to help them in the best way possible, leaving other matters at the expense of the partner bank. After all, the real interest of the company would be to gather all the financial data to show them in the current account in a detailed way, including consumption habits, which bills are paid, etc.
Taking into account that Google does not sell the data it collects in Google Pay, this same measure should be applied to the competitor's account, preventing the information from reaching advertisers so that they can display products related to customer spending.
In any case, none of this has been confirmed by the company, so we will wait for more details to know if, in fact, it will enter this sector in 2020.
Font: AndroidAuthority
