A complete surprise is the recent move of Google towards the world of banking business. The Internet giant has just obtained a license from the government of Lithuania to operate as a European fintech.
This means that the US empire will compete in basic banking services with traditional entities in this continent. Of course, it could soon expand its range of action by marketing its license and starting to offer “payment service, issue electronic money, make payment transactions, international remittances, as well as perform deposit and cash withdrawal services, as well as transfers of direct debit and credit.“
The permission granted by Lithuania allows Google to operate not only in the country but also to have a European scope. In the list of applicants could be other giants such as Apple or Samsung, which already have payment platforms through the smartphone and other devices.
The license recently obtained by Google opens a host of opportunities, given the positioning of the brand worldwide. However, the fact involves certain risks related to the security of the personal data of the users that this giant stores.
For the moment, the permit makes Google a kind of bank with elementary functions that in the near future could turn it into an effective payment system.
M.Pino
Source: Mediatelecom
Receive this and all our information directly on your cell phone through our channel on Telegram:https://t.me/BitFinanceNews
