Google has Permission to View Banking Information Europeans

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 Google has been given a license in Lithuania that allows the company to see bank details of Europeans with the explicit consent of a customer.

Google has been licensed from Lithuania since the end of 2018, reports Het Financieele Dagblad (FD) Wednesday.

European rules allow companies with a Lithuanian license to use the rights under this license in other EU countries in the future.

The chance for third parties to gain insight into bank details is part of the new European payment directive PSD2. In the Netherlands, the directive is supposed to take effect later this year: the Senate and the House of Representatives are already in agreement.

Although customers must explicitly give their consent before companies gain insight into their bank accounts, privacy advocates fear that consumers will grant this permission relatively quickly, for example in exchange for discounts.

Google says to investigate the possibilities of PSD2, reports the FD. The company says that it has no concrete plans to use the directive for the development of payment services.

Google already has its payment service, Google Pay, which enables users to make payments in stores via their smartphone.

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