Google To Launch Credit Card Comparison Search

Google is to let users compare credit cards, current accounts and savings accounts directly from its homepage.

“Today we are introducing a new look comparison unit with enhanced transparency using BeatThatQuote.com expertise and Google technology,” John Paleomylites, product management Director at Google, said in a statement sent to TechWeekEurope. “The enhanced service is now easier to use for consumers and will provide higher quality traffic for advertisers. We will introduce this improved design layout for searches around credit cards, current and savings accounts in the UK.”

If users enter one of the related terms into Google, one of the first search results will be a box showing a choice of offers, including the best offers for a number of categories, such as balance transfer offers or cards for those with a bad credit rating.

Clicking one of these categories will then summon a number of offers for that type of credit card or bank account. The service will use technology acquired in Google’s takeover of BeatThatQuote.

Big banks sign on

According to The Daily Telegraph, most of the UK’s biggest banks and building societies have already signed up for the service.

Google already has a product search which allows users to compare the prices of consumer products, but has been accused by Microsoft among others that it is abusing its position, prompting a probe by the European Commission. The introduction of the service is likely to raise questions about Google’s impartiality and the possibility that it may be favouring its own services over its competitors such as comparethemarket.com and moneysupermarket.com.

Although many major financial providers have agreed to participate, companies that have not signed up will still be included and Google has pledged transparency about its relationship with the card providers featured.

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