Following on from the launch of Google Wallet in 2011, Google is now introducing a prepaid debit card which will allow customers to purchase goods at stores and withdraw cash from ATMs.
Google Wallet is a smartphone app which allows users to make online payments and transfer funds to other users. It is a digital wallet, allowing users to store their credit and debit card information, and various marketing offers. When making a payment in a retail store, the customer uses their smartphone equipped with a Near Field Communication (NFC) chip to “tap and pay” – where the payment information is transferred from the smartphone to the payment reader.
The Google Wallet Card is an extension of Google Wallet. It is a debit card which allows users to spend their pre-paid Wallet balance at any MasterCard® retailer location or to make a withdrawal at an ATM. A user can add to their Card balance either by someone sending them funds via the Wallet app or by the user adding funds themselves from a linked bank account.
Currently, it is reported that the Card technology is only available in the United States.
Source: Google Wallet