Six US banks to partner with Google Pay on direct banking
With paper going out of style in the stamped towards digitization, it's remarkable that checking accounts exist anymore. But the fact is, they do, and Google Pay sees them as one way to avoid having to work with debit card providers. With that in mind, Google has been working with certain US banks to allow their customers to set up accounts directly with Google Pay. In other words, debit cards may no longer be needed as a middleman for the app's growth around the country. Six banks announced they were getting on board the program: BBVA USA, BMO Harris, Coastal Community Bank, First Independence Bank, and SEFCU and Bank Mobile. “Collaborations with companies like Google represent the future of banking. Consumers end up the true winners when finance and big tech work together for their benefit.” As Decrypt.co comments, however, given the fears many consumers have about the security of their personal data online, not all of them will be so convinced today's news is progress.