Google announces a redesigned Google Pay app on Android and iOS with several new features

Google Pay

Google today announced a redesigned Google Pay app on Android and iOS in the US. With this new app, you can send money to people and businesses, save money through cashback and get insights into your spending. Iin 2021, Google Pay will allow you to apply for a new kind of digital bank account with trusted financial institutions. You can read about these features in detail below.

A payment experience designed around relationships

Instead of showing a stack of cards or a long list of transactions, the new Google Pay app focuses on the friends and businesses you transact with most frequently. You can pay, see past transactions and find offers and loyalty info—all organized around conversations.

How you can see past transactions in Google Pay

If you need to split dinner, rent or other expenses with more than one person, you can create a group, split the bill, and keep track of who’s paid in a single place. Google Pay will even help you do the math on who owes what.

You can also use Google Pay to order food at over 100,000 restaurants, buy gas at over 30,000 gas stations and pay for parking in over 400 cities, all from within the app—and more easy ways to pay are coming soon.

Save and organize your money

Google Pay can also help you save money and redeem offers without the hassle of clipping coupons or copying and pasting promo codes. Look out for offers from brands like Burger King, Etsy, REI Co-op, Sweetgreen, Target, Warby Parker and more in the app. You can activate them with a tap, and they’ll be automatically applied when you pay in store or online.

An example of $5 cash back from Target

If you choose to connect your bank account or cards to Google Pay, the app will provide periodic spending summaries and show your trends and insights over time—giving you a clearer view of your finances.

Google Pay can also understand and automatically organize your spending. This lets you search across your transactions in new ways. For example, you can search for “food,” “last month,” or “Mexican restaurants” and Google Pay will instantly find the relevant transactions.

How you can search your transactions within Google Pay

A safer way to pay

It’s important that your money and private information are safe and in your control. Google Pay alerts you when you might be paying a stranger, protects you with advanced security, and gives you transparency and control to choose the privacy settings that are right for you. You can change these settings at any time.

And when you sign up for Google Pay, you choose whether you’d like to use your transaction history to personalize your experience within the app. That setting is off by default, but you can turn it on or try it for three months to see if you like it. At the end of three months, you can decide if you want to keep it on or off.

Most importantly, Google Pay will never sell your data to third parties or share your transaction history with the rest of Google for targeting ads.

Privacy and security settings within Google Pay

Coming soon—a new way to bank

People do almost everything on their phones today, but for many, the way they save, pay and engage with their bank has remained unchanged.

That’s why we’re working with trusted financial institutions to create Plex, a new mobile-first bank account integrated into Google Pay. Plex Accounts are offered by banks and credit unions, include checking and savings accounts with no monthly fees, overdraft charges or minimum balance requirements and help you save toward your goals more easily.

Plex account within Google Pay

Starting in 2021, 11 banks and credit unions, including minority-owned depository banks, in the U.S. will start offering Plex Accounts in Google Pay. In the meantime, you can join the waitlist on the app and be one of the first to apply for a Plex Account from Citi or SFCU.

Source: Google

Some links in the article may not be viewable as you are using an AdBlocker. Please add us to your whitelist to enable the website to function properly.

Related
Comments