Google has thrown its hat into the prepaid debit card arena . The San Francisco-based tech giant announced the launch of a physical prepaid card on Wednesday that will be tied to the user's Google Wallet account. The card can be used to make purchases and withdraw money from ATMs.
According to CNN Money, the Google Wallet, which has been around since 2011, is a virtual wallet that is funded through transfers from other Google Wallets as well as bank and credit card accounts. You can then use that balance to pay with a mobile phone at certain participating retailers.
Unfortunately the venture has remained rather low key since many people haven't been too keen to adopt it. Part of the reason is likely that iPhones have not gotten on board with the technology necessary to use the in-store payment feature. Many retailers don't have the appropriate point-of-sale equipment to process the transactions.
However, the launch of the new prepaid card makes it so that no phone is required to pay in stores at all. Customers can now simply swipe their card through the standard credit or debit machines found in most retail stores.
The new Google Wallet Card can reportedly be used at any location where a MasterCard is accepted and does not come with any fees. It doesn't even charge the user a fee for withdrawing cash from the ATM. Although some ATMS will still insist on charging you a separate fee.
Those interested in the card need only to sign up for a Google Wallet account and request the physical card through the Google Wallet Android app or online HERE.
Tell us what you think of the idea of a prepaid card from Google. Would you trust your finances with Google's new app program? Comment and share your thoughts on the matter with us below.
