Google Revamps Google Pay, Plans New Mobile-First 'Plex' Bank Accounts

[MacRumors]

Google today announced a total overhaul of its Google Pay apps designed for iOS and Android devices, with a new emphasis on keeping track of finances and managing financial relationships with people and businesses.

The updated Google Pay app will display the friends and businesses you interact with most often rather than a simple list of all transactions. Built-in tools allow for splitting expenses and calculating totals with another person, and the Google Pay app can be used to order food, buy gas, and more.

Integrated coupons and promo codes are included, and these can be activated with a tap. For those who have a bank account or cards connected to Google Pay, the app will now provide periodic spending summaries and show trends and insights over time, similar to how Apple Card works in the Wallet app on iOS devices.

Starting in 2021, Google plans to further enhance Google Pay with a new mobile-first banking experience. Google is partnering with 11 financial institutions for "Plex," a bank account integrated in Google Pay.

Plex accounts are offered by banks and credit unions and include checking and savings accounts with no monthly fees or overdraft charges. Plex accounts through Google Pay will be available to customers when the feature launches. Apple has an integrated credit card that works with Apple Pay, the Apple Card, but there is no similar feature for a full bank account.

Google Pay can be downloaded from the App Store for free. [Direct Link]

Article Link: Google Revamps Google Pay, Plans New Mobile-First 'Plex' Bank Accounts

 

[ThankYouRob]

"Plex"?

 

[crawfish963]

About 25% of the people I know use Android. Of those, 0% use Google Pay.

 

[Hammerd]

this is very interesting

But please leakers, get back to work we want actual rumors

EDIT : some of these infos are going to happend in 2021 so it's technically a rumor.

 

[squirrellydw]

Lawsuit in 3. 2. 1. from PLEX

 

[Aichon]

The folks behind Plex must love/hate this. Seems like they either have no chance and will basically lose their name in terms of consumer awareness, or else (in the more unlikely scenario) they have a decent basis for a lawsuit that'll pay out a hefty sum.

 

[cknibbs]

I’d love to see Apple release more of a prepaid MasterCard type account (like KOHO or Stack in Canada). They did have Apple Cash for a while but never released it in Canada.

 

[Born2Run]

Does this mean we have to start keeping all our tv/movies in banks now?

Although if they become currency I might finally be a wealthy man!

 

[lostczech]

The folks behind Plex must love/hate this. Seems like they either have no chance and will basically lose their name in terms of consumer awareness, or else (in the more unlikely scenario) they have a decent basis for a lawsuit that'll pay out a hefty sum.

Or if it's like 90% of Google initiatives, they'll drop support for it early next year and it's a non-issue

 

[ThankYouRob]

Or if it's like 90% of Google initiatives, they'll drop support for it early next year and it's a non-issue

Or it'll become Google Plex Hangouts Pay

 

[gco212]

The folks behind Plex must love/hate this. Seems like they either have no chance and will basically lose their name in terms of consumer awareness, or else (in the more unlikely scenario) they have a decent basis for a lawsuit that'll pay out a hefty sum.

That seems unlikely, in my opinion. This would be a trademark issue, but there is little chance of consumer confusion. The marks themselves aren't similar (Google is using a plain gray or silver logo), the industries are completely separate, and Plex (the software firm) is unlikely to enter the field that Google is trying to use the name in.

They might get a quick settlement to go away, but the underlying trademark violation is fairly weak.

 

[Christoffee]

Can I download money??

 

[bobnugget]

with a new emphasis on keeping track of finances

I bet thats where the emphasis is.
A bank account so Google have full access to all my transactions, along with my e-mail and search history?
Sign me up! Do I get a free Fitbit?

 

[locovaca]

Or it'll become Google Plex Hangouts Pay

And won’t be available for paying G-Suite customers either

 

[tribeaumes]

This honestly sounds really cool and hope Apple gets onboard, does something similar but to the next level.

 

[tmiw]

Considering that we have a very high percentage of unbanked/underbanked for being a Western country, this isn't as crazy as it may sound. Many of those would probably be using some sort of ripoff prepaid card or check cashing and similar otherwise, and if you can get people to use this instead, they might very well end up using NFC and the other payment features.

About 25% of the people I know use Android. Of those, 0% use Google Pay.

More than 0% now.

/uses Android and iOS interchangably.

 

[MikeAnd]

Plex accounts are offered by banks and credit unions and include checking and savings accounts with no monthly fees or overdraft charges. Plex accounts through Google Pay will be available to customers when the feature launches. Apple has an integrated credit card that works with Apple Pay, the Apple Card, but there is no similar feature for a full bank account.

So paying with Plex is just like using Apple/Google Pay with a credit card, except it immediately gets debited from your account and you don't get any rewards or protection benefits? Sounds great!

I can see why it might appeal to merchants, since transaction fees would presumably be lower (for now). But I don't see why consumers would have any incentive to adopt it.

 

[ceriess]

I dont know that I want to be using a video streaming app to pay for ****. It sounds like a bad idea.

 

[UrbanJoe1]

I’m leery. This frankly reminds me too much of little red riding hood.

 

[shapesinaframe]

Plex accounts?
Things just got a bit too real for us Eve Online players

7o

 

[Luba]

How is this app different from G Pay? They are both named "Google Pay" but G Pay has "G Pay" in the icon and I've used this app to pay another person using Google Pay. The app mentioned in the article has a Red, Green, Blue, and Yellow graphic in its icon. And this app wants my phone number to even start using it.

 

[sw1tcher]

Starting in 2021, Google plans to further enhance Google Pay with a new mobile-first banking experience. Google is partnering with 11 financial institutions for "Plex," a bank account integrated in Google Pay.

A bank account integrated in Google Pay called "Plex."

Just call it googolGoogleplex

 

[magicman32]

How is this app different from G Pay? They are both named "Google Pay" but G Pay has "G Pay" in the icon and I've used this app to pay another person using Google Pay. The app mentioned in the article has a Red, Green, Blue, and Yellow graphic in its icon. And this app wants my phone number to even start using it.

Yeah I noticed that phone number thing when I downloaded the pre-release of Google Pay, G Pay or whatever it’s called now. I have 2 Google Pay apps on my phone right now. Don’t quite understand what’s happening with it but it seems like quite the Google thing to do.

As long as it still works works as usual when I go to the grocery store again, whatever.

Im still dealing with the hurt of the horrible transition from Play Music to the utter trash that is YT Music.

 

[zepfhyr]

The folks behind Plex must love/hate this. Seems like they either have no chance and will basically lose their name in terms of consumer awareness, or else (in the more unlikely scenario) they have a decent basis for a lawsuit that'll pay out a hefty sum.

Or, option #3: nobody uses Google Plex, it is abandoned in 18 months, and Plex continues operating like normal without anyone remembering they weren't the only company to use the name.

 

[mcdj]

"Plex"?

View attachment 1672905

I’m guessing one of them will be changing their name, and it will be the one with the most lawyers.