Google finds six new partners for its Google Pay digital banking platform

Tuesday 18 August 2020 11:58 CET | News

Google has partnered with six banks to offer digital checking and savings accounts to Google Pay users in the US, starting with 2021. 

The new partners include Bank Mobile, BBVA USA, BMO Harris, Coastal Community Bank, First Independence Bank, and SEFCU. They join Google’s existing partners Citi and SFCU, announced earlier, for a total of now eight banks lined up for the project. Much like the mobile banking services offered today by a number of startups, Google will provide the consumer-facing front-end to the digital banking services it makes available, while the accounts themselves will be held by the FDIC-backed partner institutions, according to Tech Crunch.

Google will be giving the banks a co-branded experience. In addition, Google explains that by working with a range of partners from large, global banks down to smaller credit unions with deep community ties, it will be able to do a better job building products that meet its customers’ diverse set of needs. Google today operates its digital payments service Google Pay and complementary Google Wallet product to serve its customers’ financial needs. 

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Keywords: Google, Google Pay, digital banking, platform, banks, digital checking, savings accounts, US, United States, Bank Mobile, BBVA USA, BMO Harris, Coastal Community Bank, First Independence Bank, SEFCU, Citi, SFCU, mobile banking, startups, FDIC, global banks, credit unions, digital payments, Google Wallet
Categories: Banking & Fintech
Countries: United States
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Banking & Fintech