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Tuesday, November 26, 2013

Google launches new prepaid card

Google Inc. re-entered the prepaid card market with the Google Wallet Card. The MasterCard Worldwide-branded general purpose reloadable (GPR) card functions in conjunction with Google's mobile wallet.

In a Nov. 20, 2013, Google corporate blog post, Google Wallet Product Manager Sandra Mariano said the new prepaid card is a way "to spend the money instantly, either by purchasing in stores or by withdrawing cash at ATMs, without having to wait for money to transfer from your Google Wallet balance to your bank account."

Mariano noted that the GPR card does not come with monthly fees. "You can order the Google Wallet Card for free, and there are no annual or monthly service fees to use the card," she said. The card can be ordered via the Google Wallet app or from within individual's Google Wallet accounts.

But this isn't the search engine giant's first foray into the prepaid card realm. It launched the Google Prepaid Card when it rolled out Google Wallet in September 2011. But the card component was discontinued in October 2012, reportedly due to slow user adoption. end of article

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