11C
Delhi
Sunday, January 24, 2021

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.

READ ALSO:  New smartphone tool measures hemoglobin without drawing blood

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.

READ ALSO:  COVID India: Maharashtra, Kerala on high alert, fresh cases in Telangana

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.

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

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Topics In India

Covid 19 India Updates

Trending News In India

Trending Showbiz

Trending Sports

Latest Trending News In India

Intervention Impact: RBI expected to rein-in rising rupee

By Rohit Vaid (IANS) The Reserve Bank of India (RBI) is expected to rein in any sharp appreciation in rupee due to hefty FIIs'...

Bullet Train Project: 7 cos willing to construct undersea tunnel

By Anand Singh (IANS) At least seven Indian companies have shown interest for the construction of the undersea tunnel for the ambitious Mumbai-Ahmedabad High...

New UK Covid strain: India needs to stay vigilant, say experts

New Delhi, Jan 24 (IANS) With reports now showing the new UK Covid-19 strain to be not just more infectious but also associated with a higher degree...

eGrocery to grow 8X in 5 years in India, JioMart big gainer

New Delhi, Jan 24 (IANS) As the e-commerce battle intensifies in India, with Reliance Retail's JioMart being the latest major entrant with a massive...