Google has introduced a new Google Pay. I specifically avoid the word “updated”, because what happened to the payment service does not simply pull the update. To call a spade a spade, this is the most ambitious upgrade in the history of a payment service since its launch in 2015. One gets the complete feeling that the developers of the search giant had a goal to make sure that nothing remains of the old Google Pay – neither in terms of interface design nor in terms of functionality. After all, the only thing that connects the two versions of the payment service is support for contactless payment and the name.
First of all, you pay attention to the modified interface. If before, in general, there was nothing to do in the Google Pay application, then with the release of the update, a lot of new things appeared there, clearly aimed at ensuring that users visit the application and spend a lot of time there.
New Google Pay features
Now, in addition to the transaction history, located in the list, and the card selection screen, there is a section with the nearest and recommended establishments with the option to pay via Google Pay, which you are invited to visit. They are designed in the form of the logos of these establishments since it is not difficult to pull them up from Google Search or Google Maps for a payment service.
The icons were made clickable so that the user not only knew where he could go but also knew how much money he left there. This information will be accumulated regardless of whether you paid with one card, two or three. For Google Pay, only the fact of payment is important, and where the service pulled money from is not important. This is very convenient because every now and then I switch between different cards and because of this it becomes more difficult to keep records because some of the payments remain out of sight.
But Google isn’t enough to keep Google Pay just a payment service. The company decided that it was necessary to set foot on the path of banking, or at least near-banking services. Therefore, Google Pay has been turned into a universal banking client, where you can track changes in your accounts without going into your bank’s application. Again, a very cool thing for those who have multiple accounts in different banks, like mine, for example.
Google Pay bank card
But that’s not all. Google plans to introduce Plex to Google Pay starting next year. This is a new word in banking services, the company assures. To do this, the search giant plans to partner with several banks (so far only in the United States) in order to be able not only to track balance data, etc., but also to manage their accounts through Google Pay.
The first partner of Google will be the bank holding Citi. The parties have already agreed that holders of special Citi cards to be issued under the Plex initiative will be able to manage their accounts through Google Pay, interacting with deposits, making money transfers, blocking cards and even ordering new ones.
The design of the co-branded cards was developed by Google, it will also offer users a convenient way to control their finances, and the bank will be engaged in their service. Plex plans to launch at least 11 co-branded Google Pay cards with different banks next year. It turns out even cooler than Apple, which offers only one bank – Goldman Sachs. After all, if there are 11 banks, then there will be 11 different conditions of service for holders.
Google Pay payments
However, the business is not limited to banking applications only. Even if you pay with cash, Google Pay can still collect payment information through other proprietary services. For example, Google Photos and Gmail. In the first one, you can easily upload a receipt that Google Pay will detect and digitize, and you may receive a confirmation of an order, a successful purchase, or information about points accrued for a purchase. Google Pay will analyze this data too, pulling out what it needs.
I always liked very much how Tinkoff Bank implemented the QR bank transfer system. If I am standing next to a person to whom I have to transfer money, I do not need to enter his card number or phone number. It is enough just to generate a QR code with the details, which I will scan and enter the required amount. Now Google Pay has exactly the same feature. As a result, money transfers will become easier, which means they will be more willing to use them.
Despite the fact that the Google Pay update has already been released, it should be borne in mind that it is spreading very slowly and will only reach Russia after a while. Moreover, some functions at the start in our country will not work at all. We are talking about the integration of bank accounts into Google Pay, as well as about the Plex initiative, which so far is being launched only in cooperation with American banks. However, all other benefits will be available to you and me. You just have to wait.