The old Google Pay app is split into a few tabs showing your card collection and recent transactions. The new app behaves almost like a messaging app in its home tab, letting you see the people and businesses you exchange money with most often.
Click on a person or group of people, for example, and you’ll see the transactions arranged in chat-like bubbles. You have the option to pay, request money, or split an invoice, but you can also message them right in the app. In group “chats” you can see who contributed to a shared invoice and who did not; it will help you stop that friend trying to get away with not paying for dinner.
In the case of businesses, you can see your recent activity, as well as quick access to your rewards card and offers. It looks like Google is also planning to turn Google Pay into something of a coupon hub, letting you apply promo codes with just a tap and automatically apply them while shopping at a business.
The most interesting updates can be found in the app’s new financial management system. If you connect your bank and cards to the app, you can see spending trends and information to let you know if you’re using too much money on tacos. Really, you can search for “Mexican restaurants,” for example, as well as things like “grocery store” or “last month” to get a clearer picture of your finances. Google can probably tap into the huge amount of corporate data that has accumulated over the years to provide a more accurate picture of your spending.
Finally, the company announces that it will launch “mobile first” Plex accounts in 2021. These bank accounts are operated by established banks and credit unions, starting with 11 institutions next year, but with a twist. Google.
The company claims that the offering of checking and savings accounts ” no monthly fees, overdraft fees or minimum balance requirements and make it easier for you to save to meet your goals. However, there is little other information at this time.
Of course, Google is far from the only app providing such information. The proof will be in the pudding to see if this can be better than the existing options, but Google Pay has a little edge in the field in that it’s the same app you might already be using to send mail. money or contactless payments.
Then there is the question of whether you would actually trust Google with so much information about your spending. The company says it has built-in security features like alerting you if you’re sending money to the wrong person, and it offers a series of privacy controls to personalize your experience.
Google says ” will never sell your data to third parties or share your transaction history with the rest of Google to target ads. This last part is particularly important, but it remains to be seen whether people can recover from passing more information to the big G; especially because Google has a reputation for killing projects.
The changes are rolling out from today to Android and iOS in the US first, with other regions to follow.
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Published November 19, 2020 – 01:24 UTC