Google has officially announced the long rumored debit card they’ve been working on for years and years. What is it? It’s a debit card, and chances are you already have one in your wallet from your local bank. What makes Google’s card special? Nothing really, it just looks cool because it’s from Google instead of Chase or Bank of America. Does it cost anything? Nope. Spending limits? $5,000 per day. Who can get one? Anyone living in the United States.

When will this card reach Europe and Asia? Google doesn’t say, and I’m going to assume it’s going to take a hell of a long time due to the complicated nature of both European and Asian banking. It doesn’t matter if the card has a Visa logo on the front, Google would still have to go into each and every country and get some sort of approval, at least that’s what I’m assuming.

So why would you want this? Circling back to what I said earlier, it’s a Google card. Google will know every little thing you buy, when you bought it, and from which store. Google isn’t using this data today, but who’s to say they aren’t going to in the future? And will banks try to make it impossible for you to transfer money to the card? Who knows, this will definitely be something interesting to watch.

All I know is that this card represents the complete failure of mobile payments. People have been paying for groceries in Japan for over a decade now, but the rest of the world seems to not care. But then again why would they? Is using a debit card such an inconvenience? Hardly.