Google Pay Gets a Redesign to
Take on Venmo and Mint .
On Wednesday, a new version of the app was launched, .
allowing users to manage budgets, open
bank accounts and send peer-to-peer payments.
Google partnered with Citi and
Stanford Federal Credit Union
to offer its "Plex" mobile banking.
The company said it also plans to
add 11 new partner institutions in 2021. .
Along with our bank partners, we were looking to make banking more relevant for the mobile-first generation, Caesar Sengupta, general manager of payments at Google, to CNBC.
It will help our partners make banking more approachable to that generation, and not only make it more relevant,
but make it more fun, Caesar Sengupta, general manager of payments at Google, to CNBC.
Google Pay's new checking and savings accounts won't require a minimum balance.
There will also be no
overdraft charges
or monthly fees