Smart Debit Card by Google: Everything we know

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google smartcard
Image: TechCrunch

Last year Apple released its new card and named it “Apple Card.” The Apple Card offers credit card services to iOS users. Now Google has come up with a new idea of Smart Debit Cards, both physical and virtual.

Google confirmed the news in the statement about the Smart Credit Cards.
Here’s that statement in full:


“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 leads partners today are Citi and Stanford Federal Credit Union, and we look forward to sharing more details in the coming months.”

Once released in the US, the company might soon extend its services in other nations too.

Back in 2014, when Google Pay was called “Google Wallet,” the company had offered a debit card along with the Google Wallet to be used with the wallet. But in 2016, Google decided to discontinue its card and said that the card would no longer support its wallet from 30th June 2016.

According to some reports, Google is testing its new smart virtual and physical debit cards and could be Google’s “Next big product.” Note that the smart card is a debit card and not a credit card.

Reports claim that this smart debit card will be linked to the Google Pay app, which is going to keep track of the transactions made through the card.

Another report from 9to5Google says that the card would also support Google Chrome (Google’s Web Browser). It means that in the future, if any user is making a payment on Google Chrome, the browser will automatically make this smart card appear on the screen and give the user an option to pay through the smart card without having to enter any card details.

Google’s executive Caeser Sengupta said in an interview with The Wall Street Journal about the project called Cache,

“If we can help more people do more stuff in a digital way online, it’s good for the internet and good for us.”

Sengupta also said that Google has still not decided whether to charge any fees for checking accounts, but is open to partnering with more banks.

As per the rumors, the smart card would alert the users of any fraudulent activity and would let you access the card from anywhere across the globe.

Apple had also released a similar Smart Card named “Apple Card” in March 2019 for iOS users to ease the payment process. This move by Google seems somewhat similar to Apple’s “Apple Card.”

The difference between the two is that Google’s card is a debit card, whereas the latter is a credit card. This might be a drawback for Google, but the company might capture public attention due to its already established payment service Google Pay.

Apple Card provides some fantastic offers, such as cashback rewards and no fees. Whereas Google has not yet confirmed anything about the benefits, the consumers would get when they use their smart card. Although the reports suggest that the card is more secure and flexible as compared to the physical cards.

Much like Apple’s “Apple Card,” Google’s smart card is supposed to work similarly as a physical card and a tap-to-pay digital card on the smartphone. Google is also offering a separate virtual card for online payments.

First Look

Google’s working on its card to make financial management easier. Here’s a look at the card, although it’s not yet final and it’s unclear when Google’s smart debit card may launch.

Google Pay Card
Image : TechCrunch

This smart debit card by Google will come with the co-branding of Google itself and the partner bank, such as CITI and Standford Federal Credit Union. The chip in this card is of VISA Network, and Google might support other networks too, such as MasterCard.

If any customer loses the card, they can block the card and ask for a replacement card instead. The process is very straightforward and simple as compared to the physical cards available.

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