New York (The Verge) — Google Pay’s massive relaunch makes it an all-encompassing money app theverge.com/2020/11/18/215….
Google Pay is getting a huge upgrade and is now taking on Apple Pay, Venmo, Mint, and shopping deal apps directly. It will offer banking services next year. It’s much more than a payment app now, but will users trust Google enough to provide data?
The new version of the app will have three new tabs: “Pay,” which includes peer-to-peer payments as well as your transaction history using tap-to-pay; “Explore,” which will be a place where Google will offer deals and discounts; and finally, “Insights,” which will allow you to connect your bank accounts to get a searchable overview of your finances.
You will even be given the option to allow Google Pay to crawl your Gmail inbox and your Google Photos account to look for receipts. Google will use OCR technology to auto-scan them and integrate them into your finance tracking.
In 2021, Google will partner with some banks to directly offer fully online checking and savings accounts inside Google Pay — a service Google is calling “Plex.” — Dieter Bohn/@verge