Google, the tech giant announced a new financial product for users – current accounts.
Google said that it shall partner with banks and credit unions in the US to offer the “smart checking” accounts.
The service shall be launched via Google Pay.
The move is similar to the one offered by Facebook, Uber, Apple and Amazon in terms of credit cards, payment systems and loans.
Some experts like Gerard du Toit, a partner at the Bain & Co consulting firm have quoted that the tech giants entering the banking is meant to make themselves indispensable. They added that the moves are meant to attract the consumer attention so that they may won among the pool of other competitors.