For many users today Google Pay is a simple payment service. With a major update, the app now becomes much more extensive.
As things stand, most users of Google Pay are likely to use the app only as credit card storage, to then, for example when shopping at the supermarket, pay via NFC. With the update now announced by Google, which has been available in the US for a few hours, the company goes much further. Google is transforming the app into a comprehensive service that also allows users to keep their own finances in check.
The new app has three important areas, which are distributed in three tabs. Besides a financial overview, called "Insights", there is also a separate tab for any offers, "Explore", that might be interesting. Google allows users to connect their bank accounts to the app. This will enable them to find out how much they have spent in any given area by using simple search terms such as "food".
As The Verge further reports, apps such as Google Photos and Gmail will also help to collect any receipts, which will then be summarised in Google Pay.
In addition, coupons for supermarket shopping, for example, can be activated directly in the app so that they are automatically used when paying. Optionally, users can also agree to personalized offers.
Google Pay: paying in the app becomes easier
The central component is still payment with Google Pay. Here you have the possibility to pay via tap-to-pay and NFC. All these payments are grouped under the respective company in the new app. The arrangement here is similar to a chat history and should provide a better overview.
In addition to companies, individual friends and groups of friends can also pay or request a payment via Google Pay. An example is a visit to a restaurant, where you end up sharing the bill with all your friends. This can also be useful in a shared apartment, for example, when shopping for all roommates.
Google Plex: new bank accounts for Google Pay users
In combination with various banks, Google will also offer so-called Plex accounts. The new online accounts, which will be available from 2021, should, among other things, be free of monthly fees. So far, Google has been able to find 11 US banks as partners.
The new Google Pay app for Android and iOS is currently only available in the USA.