Google and Google Finance are teaming up to launch a basic-finance platform called National Finance.
The new platform will enable borrowers to access financing via a mobile app, Google said on Wednesday.
National Finance will have a platform built into Google Wallet and a “mobile app store” for Android phones and tablets.
The app will allow borrowers to make monthly payments of up to $300.
The platform is expected to launch in 2019, and Google said it will partner with more than 100 lenders.
Google Finance will offer financing to people who live in certain areas or who do not have access to traditional financial services, Google chief executive Sundar Pichai said during the company’s annual general meeting.
The company said that in 2018, it received more than 2.5 billion requests for loans from borrowers in more than 190 countries.
Google launched its National Finance app in September 2017.
Google is one of a handful of major tech companies to have launched basic-financial platforms in recent years, including Apple Pay, Google Wallet, Square and Google Docs.
Google’s National Finance platform will be used by a growing number of people across the U.S. who do access traditional banking services.
It is the first such platform to be rolled out in the U and will help banks better compete with online payment providers like PayPal and credit-card giant VISA, which are growing rapidly.
National Finance is one among a handful that will allow users to make mobile payments, Google’s Pichay said during a presentation.
It will provide customers with the ability to make payments through the Google Wallet app, which will then be available to other users on the platform.
It’s unclear how many borrowers will be able to access the app.