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Google Introducing banking services

Business Habit ⋅ @businesshabit ⋅ Jun 05, 2020


After companies like Apple, Uber, Amazon, Google is coming to the banking service this time. The world's largest technology company also wants to rule the banking sector. This is their initiative to win the hearts of the customers with banking facilities.


According to the BBC, Google is going to be the last major technology company to enter the banking sector by providing a current account.


The agency says it plans to partner with US banks and credit unions to provide "smart checking" accounts.


This service will be launched via Google Pay. Google will allow the use of analytics tools to add users. Google will bring different benefits from traditional banking products.


Gerard du Toit, a partner at Bain & Co Consulting, commented that technology giants are entering the banking world and making themselves essential between product and management.


He said they are all working to attract consumers. In this case, everyone is competing to win the minds of the customers.


Mobile banking services of e-banking have made a huge impact in the banking sector. Mobile phones are now the mainstay of bank transactions for 49 percent of Americans. Tech giants are adding new features to the banking services technology sector. Technology giant Apple Corps launched its own credit card on March 25 this year. 


They are building a credit card through a partnership with Goldman Sachs. Again, Facebook has proposed to launch a payment service to provide billing services. Companies like Alibaba and Tencent are taking over the Southeast Asian market to expand their e-banking services.
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