US-based internet company Google is set to launch a new prepaid debit card that allows consumers to purchase goods at stores and to withdraw cash from ATM machines.
Available exclusively in the US, the card will enable consumers to access the funds stored in their Google Wallet accounts. A smartphone app and online payment service, Google Wallet allows consumers to purchase goods and transfer money.
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The new Wallet card, which is available for free with no monthly or annual charges, will be accepted at ATM machines and all the stores that accept MasterCard.
An unidentified Google spokeswoman was quoted by Reuters as saying that the data about transactions made with the new Wallet card, including a description of goods purchased, the amount of the transaction and the name and address of the seller, will be added to the internal profiles that Google maintains for users of its services.
The company said that consumers can add money to the new Wallet card by linking it to a bank account or when another person transfers money to their Wallet account.
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By GlobalData
