Google Pay gets new features, contactless payments, and finance tracker and Plex bank accounts.
Redesigned Google Pay app is available in the US to download on Android and IOS devices. The new Google Pay competes directly with heavyweights like Venmo and Apple Pay.
As per Google the app is designed around your relationship with people and businesses. Google Pay new features will help you to save money and provides insights into spending.
Plex Accounts
Google said they are working with 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.
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, Google says, you can join the waitlist on the app and be one of the first to apply for a Plex Account from Citi or SFCU.
Group Pay
Google Pay will help users in splitting 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.
Track 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. It will have offers from brands like Burger King, Etsy, REI Co-op, Sweetgreen, Target, Warby Parker and more in the app. Users can activate them with a tap, and they’ll be automatically applied when you pay in store or online.
If one chooses to connect bank account or cards to Google Pay, the app will provide periodic spending summaries and show your trends and insights over time. 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.
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