Seeking to digitize the Brazilian economy, Google has just announced a new feature for its payments platform Google Pay in the country: online payments through debit cards. Previously announced in August, when the company publicly stated its plans to allowing payments via multiple cards, the big tech released the new tool this Monday, October 14.
“We are sure that this is another major step in the long journey of digital and financial inclusion for Brazilians who do not have credit card access and now will have a simpler and easier experience with online debit,” said João Felix, Head of Strategy and Operations for Latin America at Google Pay, in a statement.
To boost the new feature’s adoption, Google has already established partnerships with local retailers such as the delivery startups iFood and Rappi, mobility app Grin and the mobile operator company Claro. For now, the integration is available for those who hold a debit card issued by Banco do Brasil, Bradesco or Itaú, and from the three main acquirers in the country – Visa, Mastercard, and Elo.
“As all Google Pay tokenized transactions, when you choose to pay by debit in Brazil, your card number is not shared with the retailer. Instead, Google Pay sends a virtual account number to represent your account information, so the actual card details are safe,” explained the executive.
An alternative option besides the credit card and the Brazilian payment method boleto bancário, online transactions with debit cards is another bet of the tech giant to increase its share in a sector that is growing at a fast pace in the country – with each time more competition.