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Google asks Central Bank to operate prepaid digital account in Brazil


Google Payments of Brazil Ltda Strategies (Photo: Shutterstock)

Google asked the Central Bank to be able to operate in Brazil with prepaid payment accounts. The authorization is pending, according to the list of orders for payment arrangements released by the BC on Monday (11).

In total, 17 requests for payment arrangements from different companies were met and 12 companies have requests in progress. Among them, Google Payments of Brazil Ltda.

The modality requested by the technology giant is a prepaid digital account for domestic purposes – one of the simplest payment arrangements.

This is the model used by companies that issue meal voucher cards and prepaid cards in Reais, in which funds are previously deposited.

Currently Google payments in Brazil to youtubers, for example, are made by international transfer to a local bank, which incurs a cost for those who are receiving the money. In addition, it is the bank that sets the exchange rate, which can also harm the service provider.

Searched for by the report, Google spoke via a press service: “As the request is still under analysis, we have nothing to comment on at the moment”.

Google and financial services

Despite Google's refusal to talk about the movement in Brazil, a look abroad may give clues to the company's intentions with this service.

Like Google, other major technology companies are increasingly interested in investing in financial services worldwide.

In November 2019, the Wall Street Journal reported that Google itself planned to offer checking accounts to consumers in the United States as early as 2020. Thus, it became the latest heavyweight in Silicon Valley to invest in the banking sector.

In April 2019, Apple launched a service for personal finance in partnership with Goldman and Mastercard. Facebook, meanwhile, has had a payment system since the end of last year to be used in Messenger, Instagram and WhatsApp.

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