Financial institutions are falling behind the tech curve when it comes to meeting consumer demands, leaving big tech companies like Apple, Amazon and Google open the door to become our bankers. In November, Google redesigned its contactless payment service, Google Pay, merging the services of traditional banks with the seamless, hands-on experience users have come to expect from Big Tech.
But there is a catch.
Despite the elaborate smoke and mirrors that Google put up, one fact remains: Google is an advertising company with ads that account for 71% of its revenue stream in 2019.
What if an advertising company wants to be our bank now?