![]() The banks will own the accounts but the Google Pay app will be the main conduit for managing these accounts. Called Plex, these mobile-first bank accounts will have no monthly fees, overdraft charges or minimum balances. Google is also partnering with 11 banks to launch a new kind of bank account in 2021. With today’s update and redesign, Google is keeping all the core features intact but also taking the service in a new direction with a strong emphasis on helping you manage your personal finances (and maybe get a deal here and there as well). After about five years in the market, Google Pay now has about 150 million users in 30 countries. Over time, the company added a few more features on top of that but the overall focus never really changed. Like similar phone-based contactless payment services, Google Pay - or Android Pay as it was known then - started out as a basic replacement for your credit card. ![]() Google is launching a major redesign of its Google Pay app on both Android and iOS today. ![]()
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