Google Pay Gains New Payment and Money Management Tools, Digital Bank Account
Google today launched a major revamp of its Google Pay app with a new interface and several major new features. Instead of a stack of cards and list of transactions, the new interface centers around the people and businesses you exchange money with, with a conversation-style interface for each person, group, and business. Threads for groups include a simple "split bill" tool. New built-in tools make it easier to order food at over 100,000 restaurants, buy gas at over 30,000 gas stations, and pay for parking in over 400 cities. Participating retailers can also offer cash-back rewards and discounts that automatically appear within the app. A new Insights tab lets you explore your finances and spending in several ways, including a new search feature. It can search not only Google Pay transactions, but also — with your permission — all of your bank accounts and credit cards, as well as receipts from both Gmail and your photos. For example, you can search for "food last month" and it will show all relevant transactions as well as a total dollar amount. The new Google Pay app is available now for both Android and iOS. Finally, Google also announced Plex, "a new mobile-first bank account". Plex includes checking and savings accounts with no monthly fees, overdraft charges or minimum balance requirements. You can choose which FDIC-backed financial institution backs your account, but the Plex interface is provided by Google, within the Google Pay app. It includes tools to help you set saving goals. 11 banks and credit unions have committed to participating in Plex, and a waitlist is now available for Plex accounts backed by Citi and Stanford Federal Credit Union. Plex is very similar to Samsung Money by SoFi, which launched in July.
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Samsung today officially unveiled its Galaxy S21 series of flagship phones for 2021. All three models sport a distinctive new "Contour Cut Camera" design where the metal frame extends around one corner to surround the rear cameras.
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This summer, Samsung will launch Samsung Money by SoFi, a new financial product integrated with Samsung Pay. Like Apple Card, Samsung Money can be used as a payment method with the wallet app (Samsung Pay), the account is managed within the wallet app, and the product also includes a physical payment card.
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Apple has revealed iOS 14, which brings a number of new features to the OS for Apple's iPhones: Widgets : Apple has promoted Widgets to the main home screen. Just as Android has always allowed, you can now mix re-sizable widgets in with your app icons.
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Facebook today announced Libra, a new digital currency that aims to combine the best features of other cryptocurrencies in order to be more consumer-friendly. The currency will be administered by the Libra Association, a new non-for-profit based in Geneva.
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Samsung today announced its new flagship phones for 2020: the Galaxy S20, Galaxy S20+, and Galaxy S20 Ultra. In the US, all three models support 5G and are powered by Qualcomm's newest top-end Snapdragon 865 chipset paired with 12 GB of LPDDR5 RAM.