The Google payments app is going to undergo a makeover, now including a digital account with proximity payments, free transfers and cashbacks at partner stores.
The service must first be released to citizens of the United States. According to the technology company, users' bank transactions will not affect the ads seen on other Google services.
The partnership with Citibank will provide checking accounts and savings without custody fees, as well as free access to more than 60,000 ATMs around the United States.
According to César Sengupta, responsible for Google's payment initiatives, the goal is to be a multifunctional app that offers more value to users, in addition to 'gamifying' the act of saving money.
Friends, groups and companies
In a kind of social network, Google Pay now focuses on the financial relationships that users have. Instead of showing just a long statement of payments received and made, the app shows the people and companies with whom you do the most transactions.
You will also be able to make payment requests similar to what WhatsApp Pay proposed.
Partner stores and cash back
Another great novelty is the collection of discounts and cashbacks that will be facilitated for users. There will be a page of potential offers within the app, with partner brands like Burger King and Target.
Some of the offers may ask you to have a specific card or account. If you register your credit and debit cards or bank accounts in the Google Pay app, it can show spending summaries, trends and highlight all offers that you may be eligible for.
A tested and functional cashback product for Brazilians is Coingoback, which offers cash back for online purchases at partner stores on the site. Simply use the extension for your browser to activate cashback and receive in cryptocurrencies like Bitcoin, Ether or Nano.
But going back to the new Google application, it will also feature a kind of gameplay of the act of saving money, encouraging the achievement of goals.
Called Google Plex, these accounts will have no monthly fee or minimum balance requirement. Citibank, Stanford Federal Credit Union, SEFCU, Seattle Bank, The Harbor Bank of Maryland, BankMobile, BMO, First Independence Bank, BBVA, Green Dot and Coastal Community Bank will offer Plex accounts, says Google, with the goal of adding more to that list over time.
Plex accounts will support things like repeat transfers, goal setting – like an education fund or a vacation fund – and milestone tracking.
There will be easy tools to move money between accounts and activity updates in real time. It will also be easy to lock a card for security.
For now, only US citizens can enter the Citi and SFCU waiting list on the Google Pay app, which is now available on the App Store and Google Play.