Good news for Google Wallet users – and unfortunately only US citizens. Google has announced that they will now offer a prepaid debit card connected to users‘ Google Wallet accounts.
The card, which for now is only available in the good old US of A, will allow customers to purchase goods at shops and draw actual cash from ATM machines.
However, you would have to have a Google Wallet account to use the debit card for your shopping sprees. Google Wallet is a app and online payment service that allows its users to buy goods and transfer money between each other.
Consumers can add money to the card by linking it to their (or a) bank account. The card can also be loaded with money when someone else transfers money, via Google Wallet into their Wallet account.
To access the card‘s balance at shops or at an ATM, you simply use the same pin-code that you use with your Google Wallet account.
Just in time for the festive season, Google said that the card will be accepted at “œmillions of locations“ – well, those that accept MasterCard. The debit card will also be free of charge and no monthly fees will be charged.
Is this just Google‘s way of lending a helping hand during the festive season or do they have a bigger plan up their sleeves? Considering it‘s Google – there would certainly be something more in it for them.
According to a spokeswoman for Google, the data collected about the transactions made with the card, would be added to internal profiles that Google maintains for users of it‘s services – which of course can be used to target ads.
Descriptions of goods purchased with the card, the amount paid as well as the name and address of the retailer are some of the data Google will collect in order to tailor more specific ads.
Rolling out a debit card for Wallet account-holders is exactly what Google needs to help advance their efforts to further their role in commerce. The data collected will also provide the mega company with valuable information on consumer shopping habits and how people choose to spend their money.
It wasn’t too long ago that Google tried a similar stint with the botched consumer credit card idea. However, that plan was shelved (or terminated entirely?) when then head of Google Wallet and the company‘s payment group, Osama Bedier, left the company.
In 2011, Google also started offering an AdWords Business credit card that advertising customers can use to buy ads on its website.
While us South Africans still need to wait to get hold of Google Wallet debit card, Americans will prove to be guinea pigs for Google‘s next step in commerce. If they pull it off, could we expect a full on, Google credit card anytime soon?
Source: BusinessTech
