Google has released a debit card that links to Google Wallet accounts. The Google prepaid MasterCard can be used at any point-of-sale where MasterCard is accepted.
The Google Wallet pin code will also double as an ATM pin, and the card will have a daily spending limit of $5000. Google Wallet has experienced a tough beginning, and their point-of-sale NFC based smartphone wallet was limited due to lack of support by carriers and manufacturers. With the release of the new version of their Android operating system at the end of October, Google has redesigned the security elements needed to place NFC based transactions, and they can now be placed from any device with a standard NFC based chip, and Android 4.4 KitKat. The card will allow those either without NFC powered devices or those who are not interested in using a smartphone to complete their transactions with their Google Wallet balance.
What Lies Ahead for a British Fintech Industry Outside the EUGo to article >>
The fact that the new plastic card is a MasterCard means that a Google Wallet user will be able to use their account to place purchases from web stores and brick and mortar establishments, even if Google Wallet is not supported. Google’s card is available to all US residents, subject to an identity verification process, and free of charge.