After Apple and Facebook, Google is all set to take a plunge into the financial world, with a bank near you. A Wall Street Journal report has said the search engine giant aims to partner with banks to offer checking accounts within Google Pay app to consumers.
Code-named Cache, the Google banking project is likely to launch in 2020 with accounts run by “Citigroup and a credit union at Stanford University”.
According to Google, it will not sell account holders’ financial data. Caesar Sengupta, General Manager & VP, Payments and Next Billion Users, said, “If we can help more people do more stuff in a digital way… it’s good for the Internet and good for us.”
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