Google is working with some US banks to offer mobile-first bank accounts, a form of fully digital accounts. The Google Pay app is also being restructured and given additional functions. Companies can create special offers for users. Initially, the change will be available in the USA, but other countries will follow soon.

The new bank accounts are called Plex Accounts. Eleven banks and credit institutions work with Google to offer them. 2021 should be the start, until then interested parties in the USA can register on a waiting list. Citi and the Standford Federal Credit Union are getting started. No monthly fee has to be paid for the accounts, there is neither overdraft interest nor a minimum basic amount.

Google Pay divided into group chats Part of the restructuring of the Google Pay app is that the transactions are no longer listed as a simple list, but rather according to transaction partners. These can be divided into individuals, groups and business. As an example, Google mentions residential communities as a group in the blog post. In this, like in a chat, you can send messages and make transfers. In addition, bills can be split up: Google then tells each group member how much they have to pay, the creator is shown who has paid his share.

Google cooperates But not only with banks, companies can also make offers to customers within the service. Using promo codes, app users can get discounts at Burger King, Etsy and Target, for example. The coupons must be activated, the discount is automatically applied when paying.

Personalized accounts Users get in the app Summaries of all or selected transactions. Google automatically categorizes payment processes. Therefore, there are search filters such as “spending on food” up to a more detailed search for “Mexican food”.

Google promises to never sell the data to third parties. The transaction history is also not used for advertising in other Google services. Within Google Pay, the information can be used for a “personalized experience” – the function is deactivated by default. There are warnings for suspicious transactions.

Google has not yet commented on a start in Germany.

(emw)