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Google is redesigning its Pay app with new features like spending insights, group payment option, easy offer redemption and transaction tracking.
"Starting in the U.S., we're launching a redesigned Google Pay app on Android and iOS," said Caesar Sengupta, General Manager & VP, payments and next billion users at Google. "The new app is designed around your relationships with people and businesses."
Pay app users can create groups, split expenses, and keep track of who’s paid in at specific place. The app will also help calculate payment and balances. Google Pay will also simplify offer redemption, without users needing to copy and paste promo codes.
They can activate offers from different brands, with a tap, which will be automatically applied when they make the payment.
The app will also organise users' spending, and provide periodic spending summaries, trends and insights. Users can search for transactions with words such as “food” or “last month”, and the app will find relevant transactions.
To ensure safety, Google Pay can alert users while paying a stranger, and will allow them to choose the right privacy settings.
Users can turn on the setting for using their transaction history to personalise their experience within the app.
Google assured that Pay will never sell users' data to third parties or share their transaction history for targeting ads .
‘Plex’ in U.S.
Google Pay will also launch a new way to bank with Plex accounts, next year. Plex is a new mobile-first digital bank account that will be integrated into Google Pay.
It will include checking and savings accounts with no monthly fees, overdraft charges or minimum balance requirements.
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, the company said.
