Alphabet Inc’s Google will offer checking accounts to customers starting next year in a finance push, the Wall Street Journal has reported. The project, named Cache, will have accounts by Citigroup Inc and a credit union at Stanford University, according to the report.
“Our approach is going to be to partner deeply with banks and the financial system,” Caesar Sengupta, general manager and vice-president of payments at Google, told the Journal in an interview.
“It may be the slightly longer path, but it’s more sustainable,” Sengupta was quoted as saying in the report.
The search giant will tie the accounts to its Google Pay offering, which already has 100 million users around the globe, a person with knowledge of the project told CBS MoneyWatch.
Now, which bank in Nigeria will get the blessing of Google? That would be huge in the market as Google takes this mission global.
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