Prepaid debit card, without fees offered by Google
Card will allow users to make purchases and transfer money
The world's undisputed largest Internet search engine, Google, has now got into the banking business. Google now plans to offer a prepaid debit card that will let consumers purchase goods and to withdraw cash from ATM machines.
Google has always wanted to play a bigger role in commerce and provide the company with valuable information about consumer shopping habits.
The card will be accepted at "millions of locations" that accept MasterCard and at ATM machines, Google said in an online post. The card is free and cardholders will not any monthly or annual fees.
Google has always wanted to play a bigger role in commerce and provide the company with valuable information about consumer shopping habits. The debit card at first seems to be a less ambitious version of a full-fledged credit card that was once rumored to be in the works.
According to a report in the technology blog, AllThingsD plans for a Google credit card were shelved when the head of Google's Wallet and payments group, Osama Bedier, left the company last May.
The card seems to be a logical extension of previous offers. Google began offering a special AdWords Business credit card that its advertising customers could use to buy ads on its website in 2011.
Transactions made with the new Wallet card, including a description of goods purchased, the amount of the transaction and the name and address of the seller would be added to the internal profiles that Google maintains for users of its services, which can be used to target ads.
Consumers add money to the new Wallet Card by linking it to a bank account or when another person transfers money to their Wallet account, according to Google. The card can be ordered online on Wednesday, and typically takes 10 to 12 days to arrive.
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