As said by the company, Google is soon going to offer a new prepaid debit card that is going to allow its customers to buy goods from the retail shops as well as withdrawing money from ATM machines.
The card is only going to work in United States and the customers can access their funds with the help of this card that are stored in their Google Wallet account. For those people who do not know what Google Wallet is, it is an application for Smart phones that allows online payment service to its customers and allows them to buy goods and exchange money from one person to another.
The news is that the card will be accepted at almost all the locations and shops that accept Master and Visa cards. Google also blogged on its official page that the card is free of cost and the company is not going to charge the cardholders with any kind of monthly or any annual fees.
The card id definitely going to help the company to acquire a very major part in the commerce sector and is going to supply the information about the shopping habits of the consumer. In reality it seems to be much less ambitious when we compare it to fully fledged credit card.
The plans for the Google credit card were shelved when the head of the payments group and Google Wallet, Mr. Osama Bedier, resigned from the company in May this year.
There is no doubt about the fact that Google is the no. 1 search engine and it has also started offering a very special AdWord business credit card that can be used by its credit card customers to buy advertisements on its websites.
One of the Google spokesmen confirmed us that the data related to the transactions that will be made using this new card will be attached to the internet profiles that is maintained by the Google for its users and which could be utilized for targeting advertisements. The data about the transactions may include the description of the products that has been purchased using the card, the name and address of the card holder, and also the transaction amount etc.
The cardholders also have the ability to add money to their brand new Google Wallet card. According to Google, for doing this you just need to link the Google Wallet card with your bank account. The card is available and can be ordered online and it takes about ten to twelve days to arrive as we are informed by the Google spokeswomen.
The user cannot carry many number of cards at a time, but they will be receiving alerts if their card is fraudly swiped without their knowledge and can be locked to save it. It kinds of defeats the idea of making use of your Smartphone as a wallet but on the other hand it totally makes sense that Google will be doing this. The company no doubt will take bay steps so as to encourage people to change from their old payment methods to this new one but sooner or later we can expect to see the change in the mindset of the people.