Google is preparing for a live stream of video announcements tomorrow morning. Pictures of the Google affiliate debit card leaked back in April, along with a bunch of money-management tools in the Google Pay app, just like Apple does to iPhone users using the wallet app on iOS.
The video airs this Wednesday morning at 9:27 AM (PT) on Google’s YouTube channel (embedded below). Starting at that time the video is currently pending in a livestream and the description of the video reads as follows,
We invite you to see and learn first hand about the new Google Pay app designed to help you improve your relationship with money. It starts in the US and comes to Android and iOS.
The description of this video connects with the leaked images from April. Google should be ready to launch its own government-backed banking system that provides users with visual spending tools and easy ways to manage expenses. There is no other detail about the exact features of such debit cards or reward plans, but Google should announce everything in the morning.
With the release of the Apple Card, Google thinks it can fill the void left by Apple: a virtual bank account. Apple Card is ultimately a credit card and does not use routing numbers to receive checks or Ace payments, and the benefit of opening a Google bank account does not depend on the user’s credit history, and it covers both Android and iOS users.
Google already has a debit card in the past. Google Wallet Card is a MasterCard debit account that draws funds directly from Google Wallet balance or saved payment system. Later, the idea of a Google wallet card was very closely opposed to the PayPal debit card, but it was discontinued a few short years later.
Given Google’s resources, data, and infrastructure, we have no doubt that this could be a drag on launching a ‘Google Bank’ category. Google is known for launching convenient services and then pulling the carpet.