Google Revamps Google Pay, Plans New Mobile-First 'Plex' Bank Accounts

Google to integrate bank accounts in payments app

Alphabet Inc's GOOGL.O Google on Wednesday relaunched its US payments app, introducing paid promotions to the service and opening a waitlist for bank accounts being launched next year with Citigroup Inc C.N and 10 other institutions.

The new app has been completely rewritten in Flutter, Google's DART-based development kit, and is now available in the United States.

The new version of Google Pay will have three main tabs, including Pay, Explore, and Insights. A new group chat feature will allow users to see which people in a group have contributed towards splitting a bill and who hasn't. The solution is similar to Apple Pay integration in Messages, but Google's design goes further by applying the UI language to businesses.

It has also been integrated with Google Photos, which allows it to retrieve any paper receipts that users may have photographed.

The old Google Pay app shows your bank card details and also recent transactions on the homepage itself.


The Google Pay app has been given a makeover, growing from a simple payments tool to a full-blown financial management service and, from early next year, a gateway to a full bank account. Friends and businesses you frequently transact with will be visible under this tab. This means that users won't be able to use the app simultaneously on multiple devices. Google Pay will also alert you if you spend too much on shopping or dinners, aimed at helping you to cut spending in the following months. And if you connect the app to your bank account, Google Pay will give you a clearer view of your finances with spending summaries, trends, and insights over time.

This version is rolling out in the United States first and is only a part of Google's plans for the future of Pay. Your data will never be sold to third parties and won't be shared with the rest of Google for targeting ads.

As if a revamped app weren't enough, Google integrated a new mobile-first bank account into its platform: Starting in 2021, 11 U.S. banks and credit unions will begin offering Plex checking and savings accounts (free of monthly fees, overdraft charges, or minimum balance requirements).

"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", Sengupta notes.

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