Another Big Tech company joins the banking game
In Brief:
- Google will partner Citi and a small Stanford University-affiliated credit union to launch a checking account.
- Code named Cache, the account is due to launch early next year.
- Users will be able to access the account through Google Pay, bolstering the digital wallet as it goes up against rivals like Apple, Samsung and Facebook.
What it means
Google appears less interested in creating its own banking brand rather than in accessing valuable financial data - on things like income and bills. However, Google insists it won't sell that data to third parties.
