San Francisco, Apr 18 (IANS): After seeing the success of Apple credit card, Google is now reportedly working on its own physical and virtual smart debit cards that will allow customers to buy things online as well as in retail stores.

According to a report in TechCrunch, the Google smart debit card will connect to a Google app with features that "let users easily monitor purchases, check their balance or lock their account".

The card will be co-branded with different bank partners, including CITI and Stanford Federal Credit Union, the report said on Friday.

Google Pay or GPay currently helps users do peer-to-peer payments by adding a physical debit card that could be used for a wider variety of purchases.

Much like the Apple Card, the Google smart debit card is created to work as a physical card as well as a digital card on a smartphone.

A "Google Pay Card" will not only make Google a fintech giant but also unlock new streams of revenue and data.

The tech giant could charge interchange fees on purchases made with the card or other checking account fees.

"Google could use transaction data on what people buy to improve ad campaign measurement or even targeting," said the report.

A virtual version of the Google smart debit card on a user's smartphone can also be used for Bluetooth mobile payments. A virtual card number can also be used for online or in-app payments.

Apple Card comes with benefits like instant approval, zero fees on missing deadlines or going over the limit and daily cashback on purchases.

"For Apple Pay, revenue and transactions more than doubled year-over-year, with a run rate exceeding 15 billion transactions a year," said Tim Cook in Apple's last earnings call with the analysts.

The Apple CEO also pointed to Apple Card as a reason the company's iPhones sold so well during the holiday season.