Google is one of the most versatile yet widely used platforms. Apart from aiding the users in almost every possible mean through its services, Google continues to become partners with other tech giants. On Monday, Google announced its new partnership with eight banks, all of which are US-based. The bank accounts will be present in the Google Pay; customers can access the accounts checking by Google digitally on the frontend, whereas, the infrastructure will be handled by the partner banks, backend technology and FDIC insurance.
The exact date of the launch banking feature hasn’t been confirmed yet, but it will be somewhere in 2021. However, we are unsure about the provision of physical debit cards to the customers by Google and its partners.
Google is still working on and exploring ways to partner with different banks in the United States that can allow digital banking through Google Pay. It also ensures the users that Google Pay will bring along a lot of perks for its customers with proper insurance of the money by FDIC or NCUA. Banks that have become partners with Google already include, Citi, Stanford Federal Credit Union, BBVA USA, First Independence Bank, Bank Mobile, Coastal Community Bank, BMO Harris, and SEFCU.