Ah! The biggest tech rivals are yet again standing face to face. Long gone the times when Apple was a sole tech company to have a card. Hence, there are rumours telling that Google is designing the Google Card. Above all, Google has come up with revolutionary technology. Even more, everything is smart with Google, be it the texts, videos, or music.
They are smarting up the banking system with a new card probably. According to the news, Google is designing digital and physical debit cards. Furthermore, the cards are integrated with an app for managing money matters. As a result, users will be able to manage purchases, make payments, and check the balance.
First of all, Apple came up with this financial service last year with Apple Card. So, Google is clearly trying to compete and capture the Android market with a sturdy grip.
The Google Card will collaborate with Stanford Federal Credit Union and Citigroup for the financial side. Similarly, it will have a chip on it. Therefore, the prime aim of this card is to help pay for Google Play Store products and more. So, back in November 2019, Google released the statement informing everyone of the collaboration.
According to the statement, they were working with SFCU and Citigroup for a smart checking account. Also, it will help Google gain insights about the purchasing decisions and behaviours of the customers. In contrast, Apple Card hit the market in August with collaboration with Goldman Sachs and MasterCard. Also, their card is usable for Apple Pay and iPhones. Most noteworthy, their card has a daily cash-back reward and zero fees.
Above all, law firms and governments have had concerns about privacy and data collection by Apple and Google. Ever since the rivals are trying to come up with financial services, there have been conspiracies. For instance, Facebook had a plan for Libra, its cryptocurrency service. As a result, it’s undergoing major regulatory issues.
In contrast, Facebook intends to create a financial service similar to PayPal with better infrastructure and high usability. In contrast, Google hasn’t shared anything officially as they intend to share information in the coming months. So according to Google, they are testing multiple paradigms regarding credit unions and banks.
It seems like Google is thriving to offer smart checking accounts. Also, they intend to launch budgeting tools along with NCUA or FDIC accounts. Consequently, there is no information regarding Google Pay card from SFCU or Citigroup.
When it comes down to Apple Card, a myriad of features is there. In contrast, some features aren’t available in any other financial service. So, let’s see!
Certainly, this is an upfront reward. With this notion, you can get real benefits with Apple’s website utilization and cardholders. So, if you buy Apple products, you can get a 3% cash-back. Most noteworthy, multiple cards might provide the cash-back, but they don’t surpass 2%.
Certainly, Apple and its cash-back and rewards are unique in the financial industry. Consequently, you can use these rewards to pay for statement balance and make purchases. Furthermore, you can send money to your friends and family as well. In contrast, if you make a purchase and cancel the order, there shall be no cash-back or rewards. Finally, the rewards and cash-back money is charged back from the Apple account.
Apple Card is designed from titanium with zero signature fields or numbers. The majority of credit card users look for cards with zero expiration or CVV number written on it. So, it’s needless to say that the Apple card has both options. Finally, some people wonder how this card is acceptable at restaurants and stores, and we don’t know either! (only Apple can share the BTS!)
It is probably the best thing about Apple Card, that it has lower interest rates. In contrast, you need to have a rewards credit card in other financial services for this interest rate.
This might not be the concern for “Apple” users, but who doesn’t like some relaxation, right? So, with Apple Card, there is no late payment, cash advance, balance transfer, payment return, or the credit limit fee. Even more, this option is hard to find but readily available with Apple Card, so why not?
So, Apple Card offers real-time fraud alerts. Likewise, the fraud alerts are available through email, text messages, and the Apple Pay app. Furthermore, Apple Card users can set the charges alert to keep track of spending. So, all in all, this notion helps identify frauds readily.
Finally, the rivals are standing in front of each other, and the world is about to see some innovative financial services. It’s doubtless that Apple has exemplary service, but no one knows what Google holds. So, let’s wait for the official information!
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