Google plans to offer checking accounts

Google plans to add checking accounts from Citigroup and a credit union to its Google Pay digital wallet in 2020, the tech company says

NEW YORK -- Google plans to add checking accounts from Citigroup and a credit union to its Google Pay digital wallet in 2020, the tech company said Wednesday.

Google confirmed an earlier report by The Wall Street Journal.

Now the Mountain View, California-based tech giant wants to add checking accounts.

“We’re exploring how we can partner with banks and credit unions in the U.S. to offer smart checking accounts through Google Pay,” the company said in a statement.

The move would let users use Google Pay but keep money in accounts that meet the federal regulatory standards for banks. While Google is working with Citigroup and Stanford Credit Union now, it hopes to add more partners in the future.

In the U.S., more than 2,000 banks already offer virtual card transactions via Google Pay, Google said.

Citigroup did not immediately respond to a request for comment.