Google this week introduced major changes to its Pay app, transforming it from a simple tap-to-pay platform to complete financial service.
Rolling out first to iOS and Android users in the US, Google Pay's fresh interface aims to help folks save money and better understand their spending.
"The new app is designed around your relationships with people and businesses," Caesar Sengupta, general manager and VP of payments at Google, wrote in a blog announcement. "It's built with multiple layers of security to keep your money and information private and safe. And in 2021, it will give you the chance to apply for a new kind of digital bank account with trusted financial institutions."
Organize Your Money
Gone are the days of stacked cards or long lists of transactions. Google Pay instead focuses on frequent dealings—whether that's paying your monthly rent or hitting every Panera Bread along the route of your next road trip.
Payments, past transactions, offers, and loyalty information are neatly organized around conversations, so you can easily keep track of which roommate paid for which amenity. "Google Pay will even help you do the math on who owes what," Sengupta boasted. Add to that periodic spending summaries and a search function (request data on "food," "last month," "Mexican restaurants," or specific cities) and you'll be able to get a much clearer view of your finances.
Save Your Money
Whether you're stuck at home for the holidays or traveling to visit relatives, use Google pay to order food from more than 100,000 restaurants, buy gas at some 30,000 stations, and pay for parking in 400-plus cities. Also keep an eye out for in-app offers from brands like Burger King, Etsy, REI, Sweetgreen, Target, Warby Parker, and more; activate the voucher with a tap, and the savings will be automatically applied when you pay in store or online.
Protect Your Money
Google Pay now alerts users when you may be paying a stranger, offers advanced security, and provides transparency and control via easily tweaked privacy settings. "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," the blog said.
As if a revamped app weren't enough, Google integrated a new mobile-first bank account into its platform: Starting in 2021, 11 US banks and credit unions will begin offering Plex checking and savings accounts (free of monthly fees, overdraft charges, or minimum balance requirements).
Further Reading
Mobile Payment App Reviews
"pay" - Google News
November 19, 2020 at 08:12PM
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Google Pay Redesign Focuses on Organizing, Protecting Your Money - PCMag
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