(www.theverge.com)
The new version of the app will have three new tabs: “Pay,” which includes peer-to-peer payments as well as your transaction history using tap-to-pay; “Explore,” which will be a place where Google will offer deals and discounts; and finally, “Insights,” which will allow you to connect your bank accounts to get a searchable overview of your finances.
You will even be given the option to allow Google Pay to crawl your Gmail inbox and your Google Photos account to look for receipts. Google will use OCR technology to auto-scan them and integrate them into your finance tracking.
In 2021, Google will partner with some banks to directly offer fully online checking and savings accounts inside Google Pay — a service Google is calling “Plex.”
So Google's going All In on banking again. I'll won't use any of these advanced features but this is interesting to see how this plays out. By the way, this app is based on Tez which Indian users had this for months.
Google Pay relaunches as a full fledged banking experience with an assist from India