25 C
Wednesday, August 12, 2020

Google all set to launch their banking project with Google Pay

- Advertisement -

Google all set to launch their banking project with Google Pay San Francisco, Nov 14 (IANS) After Apple and Facebook, Google is all set to take a plunge into the financial world, with a bank near you.

A Wall Street Journal report on Wednesday said the seaech engine giant aims to partner with banks to offer checking accounts within Google Pay app to consumers.

Code-named Cache, the Google banking project is likely to launch in 2020 with accounts run by “Citigroup and a credit union at Stanford University”.

According to Google, it will not sell account holders’ financial data.

Caesar Sengupta, General Manager & VP, Payments and Next Billion Users, “If we can help more people do more stuff in a digital way… it’s good for the Internet and good for us”.

Facebook, which has launched a payment system for all its apps — WhatsApp, Instagram, Messenger and Facebook — is facing scrutiny over its digital currency Libra.

US lawmakers bluntly told Facebook CEO Mark Zuckerberg in a hearing last month to address his existing failures first before launching the digital currency Libra.

In a six-hour grilling at a House Financial Services Committee hearing on Wednesday, both Democrat and Republican lawmakers expressed dissatisfaction with Facebook”s cryptocurrency plans.

Facebook plans to launch Libra next year.

On the other hand, the New York Department of Financial Services has opened a probe into allegations of gender discrimination by Apple Card issuer Goldman Sachs while determining credit limits.

The investigation into the algorithm used to set credit limits for the Apple Card followed a series of tweets by entrepreneur David Heinemeier Hansson (known as DHH) about Apple Card.

Follow Us For Latest Updates -

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Related News


Please enter your comment!
Please enter your name here

Trending Topics

Covid 19 India Updates

Covid-19 pushes down growth of Indian Pharma market to 0.2%

New Delhi, Aug 12 (IANS) The Covid-19 pandemic is having a mixed bag for the Indian Pharmaceutical Market (IPM) that registered a muted growth...

Trending Right Now

Sushant’s brother sends legal notice to Raut, seeks apology

Patna, Aug 12 (IANS) Sushant Singh Rajput's BJP MLA brother Niraj Kumar Babloo has sent a legal notice to Shiv Sena leader Sanjay Raut and...