Google staff visited CUNA’s Washington, D.C. office earlier this week to discuss its plans to partner with credit unions and banks to offer checking accounts through Google Pay.
During the meeting, Google provided details on the product it is developing, along with a timeline of when a Google co-branded checking account would be available to the public.
Google is partnering through the first stages of development with Stanford FCU, Palo Alto, Calif. and Citibank, but will likely add more partners as development progresses.
The product will be a checking account accessed through Google Pay, similar to the way credit cards are accessed through the Google Pay app. The major difference is that checking accounts will be designed to work specifically with Google Pay, meaning they must be opened by Google through Google Pay. They will be accessible only through Google Pay as well as a Google branded (or possibly co-branded, with the financial institution) debit card.
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