Google Pay is shifting towards banking services. Google just announced that Google Pay will allow you to set up a Plex bank account starting next year. This account is itself attached to a 100% mobile bank and is only available through the Google Pay payment service. 11 partner banks have chosen to finance Plex (especially for loans to private individuals). When you create a Plex account, you automatically get a checking and savings account with no minimum balance, no overdraft fees, and no operational bank fees. The future.
Google is using this new “service within the service” to fundamentally change the Google Pay interface. One of the most important innovations is the creation of user groups that are linked to the same virtual payment fund. Joint payments (ideal for a roommate, for example). It is also possible to manage discount coupons. This time more classic: The account management part offers a quick overview of the types of expenses made in the last month. In this way, you can effectively distribute your budget among the different expenditure items.
This redesign of Google Pay with the linked Plex account will be available next year … only in the US. Google has not yet given any indication of a possible launch outside of the US.