Economy

Google to integrate bank accounts in payments app

Google to integrate bank accounts in payments app”

Looking ahead, Google is working with financial institutions to create a mobile-first bank account dubbed Plex. 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.

The new app also moves into Venmo territory by letting users send payments to others and enables contactless payments in stores. But now users can transact with groups of people, search transactions, view analytics and explore cashback offers from merchants including Burger King and Target Corp TGT.N . Once a user is signed in to Google Pay on one smartphone, the app will log out itself out from any other device the said user has signed in to.

'Our goal is to be the all-in-one app that gives users more value and control out of their money, ' said Caesar Sengupta, who oversees Google's payment initiatives. Pay has more than 150 million monthly users spanning 30 countries.

"Instead of showing a stack of cards or a long list of transactions, the new Google Pay app focuses on the friends and businesses you transact with most frequently", Sengupta said.

More news: Gal Gadot’s ‘Wonder Woman 1984’ finally announces opening date

Meanwhile, Google has confirmed that next year Americans will be able to use the app to open a Plex bank account, co-branded with one of 11 different partner lenders. Offered by banks and credit unions, Plex Accounts will support checking and savings accounts with no monthly fees, overdraft charges or minimum balance requirements. Those interested can join a waitlist in Google Play to be among the first to apply for account from Citi or SFCU.

"This collaboration gives us a platform to drive significant scale in our Retail Bank", said Citi's incoming Chief Executive Jane Fraser.

The US version of the Google Pay app on Android and iOS is getting a major design overhaul that makes it visually and functionally similar to the Indian version.



Like this

loading...
loading...

Latest


19 November 2020
Morrison Govt welcomes 'world's largest free trade agreement'
It includes China, Japan, South Korea, Australia, New Zealand, and the ten members of the Association of Southeast Asian Nations. Taiwan hopes eventually to sign a free trade deal with the USA , its main arms seller and most important worldwide backer.

19 November 2020
Ugandan politician and pop star Bobi Wine says he has been arrested
A NUP coordinator, Moses Bigirwa, said the police "are still tightlipped on the circumstances surrounding Wine's arrest". Ugandans will vote in a general election on January 14, 201 to elect a president and members of parliament.

19 November 2020
Alex Telles tests negative for coronavirus, available for Brazil’s clash against Uruguay
So much has been said and written about hierarchal issues at Old Trafford, and how that has impacted recruitment strategy.

19 November 2020
Warriors Klay Thompson suffers concerning leg injury, severity unclear
In his eight seasons with the Warriors, Thompson has averaged 19.5 points per game while shooting 41.9 percent from 3-point range. The fear is Thompson suffered a significant Achilles injury, sources told Yahoo Sports' Chris Haynes .

19 November 2020
US destroys ICBM in test using missile developed with Japan
The test had been planned for last spring but was delayed because of restrictions related to the coronavirus pandemic. The demonstration could shift how the United States and allies such as Japan conceive of homeland missile defense.

19 November 2020
So Sad: Bobby Brown’s Son Bobby Jr. Dies
While authorities are still investigating the scene, sources told the outlet 'they do not believe there was foul play involved'. In 2015, Bobbi Kristina Brown , Bobby Brown's daughter with New Jersey music icon Whitney Houston , died when she was 22.

19 November 2020
Charlie Brown Specials to Air on TV, After All, in PBS Deal
The petition ultimately garnered more than 250,000 signatures. Sunday, Nov. 22, on PBS (OPB for OR viewers) and PBS KIDS.

19 November 2020
Sixers fans react to Al Horford trade
Horford's 2019-20 campaign left much to be desired as he averaged just 14.2 points per game, his lowest averaged in eight seasons. Horford lost his starting spot late in the season and didn't appear to fit in with the franchise moving forward under Rivers.

19 November 2020
China Condemns Historic Australia-Japan Defense Pact
Suga made the comments during a joint press conference with Australian Prime Minister Scott Morrison who is visiting Tokyo. When it comes to Australia, China is not even pretending that it is not on the path of retribution.

19 November 2020
Robinson Canó suspension: What it means for the Mets
McNeil has played all over the infield and outfield while batting.319 in three seasons with the Mets. The penalty came less than two weeks after Steve Cohen bought the Mets for $2.4 billion.