It is now being reported that Google is now planning to provide its customers with check accounts within the Google Pay app. In the report, it said that it is a cache project, and it can launch during the next year and will be offering a partnership too.
The company will be going for a partnership with Citigroup and a small Stanford University credit union. Google is saying that all the accounts will now be re-branded up front and will be coming from the banks, too, which will help in handling the financial backend and regulatory compliance also.
As per executive of Google Caesar Sengupta, he told in a statement that the initiative is said to be designed in such a way that it will help more people to do more stuff digitally online. He, too, added by saying that all these services will be used to offer all loyalty card programs.
In the publication, he said that checking accounts usually contain a huge amount of valuable data about consumer spending and to add all information to the people earn too. Google, too, said that it would not be going to sell any financial data to any advertisers at any cost.