{"id":115150,"date":"2020-11-19T04:24:15","date_gmt":"2020-11-19T01:24:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/google-pay-gets-a-complete-makeover-to-try-to-handle-all-your-finances\/"},"modified":"2020-11-19T04:24:15","modified_gmt":"2020-11-19T01:24:15","slug":"google-pay-gets-a-complete-makeover-to-try-to-handle-all-your-finances","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/google-pay-gets-a-complete-makeover-to-try-to-handle-all-your-finances\/","title":{"rendered":"#Google Pay gets a complete makeover to try to handle all your finances"},"content":{"rendered":"

“#Google Pay gets a complete makeover to try to handle all your finances<\/strong>”<\/p>\n

\n Google Pay is getting its biggest update ever today. The company today announced<\/a> it is completely revamping the app<\/a> for its wireless payment system, maintaining the same abilities as before to send and receive payments, but also turning it into an all-in-one money management app.<\/p>\n

In Google\u2019s own words \u201cthe\u00a0new app is designed around your relationships with people and businesses,\u201d and \u201cit helps you save money and gives you insights into your spending.\u201d Next year, you\u2019ll also be able to apply for a Google bank account, something we first saw rumored about a year ago.<\/span><\/p>\n

Google Pay\u2019s old app is divided into a few tabs showing your collection of cards and recent transactions. The new app instead almost behaves like a messaging app within its home tab, letting you see the people and businesses you exchange money with most often.<\/p>\n

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Click on a person or group of people, for instance, and you will see transactions arrayed in chat-like bubbles. You are given the option to pay, request money, or split a bill, but you can also message them right within the app. In group \u201cchats,\u201d you can see who has contributed to a split bill and who hasn\u2019t; that\u2019ll help you stop that one friend who tries to get away with not paying for dinner.<\/p>\n

In the case of businesses, you can see your recent activity, as well as have quick access to your rewards card and offers. It seems Google is also planning on turning Google Pay into something of a coupon hub as well, allowing you to apply promo codes with a tap and have them automatically applied when shopping at a business.<\/p>\n

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The more interesting updates are in the app\u2019s new financial management system. If you connect your bank and cards to the app, you can see spending trends and insights to let you know if you\u2019re using up too much money on tacos. Really, you can look up \u201cMexican restaurants,\u201d for instance, as well as things like \u201cgroceries\u201d or \u201clast month\u201d to get a clearer idea of your finances. Google can likely leverage the huge amount of business data it\u2019s amassed over the years to provide a more accurate picture of your spending.<\/p>\n

Lastly, the company says it will launch \u201cmobile-first\u201d Plex accounts in 2021. These bank accounts are administered by established banks and credit unions, starting with 11 institutions next year, but with a Google twist.<\/p>\n

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The company says the checking and savings accounts offer \u201cno monthly fees, overdraft charges or minimum balance requirements and help you save toward your goals more easily.\u201d There\u2019s little other information for now though.<\/span><\/p>\n

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Of course, Google is far from the only app to provide such insights. The proof will be in the pudding to see whether it can be any better than existing options, but Google Pay does have a bit of a home-field advantage in that it\u2019s the same app you might already be using for sending money or contactless payments.<\/p>\n

Then there\u2019s the matter of whether you\u2019d actually trust Google with so much information about your spending. The company says it has built-in safety features like alerting you if you\u2019re sending money to the wrong person, and it offers a series<\/a> of privacy controls to customize your experience.<\/p>\n

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Google says it \u201cwill never sell your data to third parties or share your transaction history with the rest of Google for targeting ads.\u201d That last part is particularly important, but it remains to be seen whether people will be able to get over handing over more information to the big G; not the least because Google has a built a reputation for killing off projects<\/a>.\u00a0<\/span><\/p>\n

The changes are rolling out starting today on Android and iOS in the US first, with other regions to follow.<\/p>\n

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\n Published November 19, 2020 \u2014 01:24 UTC\n <\/p>\n<\/p><\/div>\n