The new version of the Google Pay application looks like a chat application, as it displays the contact list (individuals and companies), and displays money transfers to appear as messages. You can also create group “conversations” to easily split the bill in the restaurant or monthly rent with your roommates. And yes, you can send text messages too.
This new version of the Google Pay app will be launched in the USA first and is only part of Google’s plans for the future of payment. Google has partnered with 11 banks and credit unions to launch Plex accounts, which are checking and savings accounts with no monthly fees, withdrawal fees on statements, or minimum balance requirements. Plex Accounts will be coming in 2021, and again only in the USA at first.
The app also simplifies promotions and discounts, and Google has teamed up with the likes of Burger King, Etsy, REI Co-op, Sweetgreen, Target, Warby Parke and many other companies to offer offers and discounts through the Google Pay app. The discounts can be availed of with a single click and you can set reminders for offers and deals that will expire soon.
The new Google Pay app can also help you organize and review your expenses. If it’s linked to a bank account, it will give you a summary at the end of the month, including pointers in your spending habits. It can also scan your Gmail inbox and Photo Library for past receipts, with your permission, of course.
The new Google Pay app also lets you search your spend history with the same Google intelligence you get in Google Photos, for example. You can search for “food” or “last month” and Google Pay will display all financial transactions related to the query.
Google has made Google Pay safer and more private. Google confirms that your data will never be sold to third parties and it will not be shared with the rest of Google for the sake of targeted ads. The app also has several layers of security. For example, the app will warn you when you are about to send money to a stranger.
You can subscribe to use the transaction log to customize the app. This option is disabled by default, but you can try it for three months before deciding whether to continue using it or deactivate it.