Google pay is all set for a new facelift! Everything from the logo to the user interface has been redesigned to meet the ever-changing demand for the market.
There were over two billion transactions done on various UPI platforms in India during October. Although many UPI platforms exist in India, Google pay and Phonepe have taken control of the majority market, evenly sharing the 80% market domination. Paytm remains at a distant third position. The Google-owned Google pay app and Walmart owned Phonepe app have both shifted towards providing the user with a seamless interface meant for instant messaging as well as payment transactions.
The announcement comes weeks after WhatsApp, owned by Facebook, said that it plans to add the payment feature to the app. With already millions of users already using WhatsApp the addition of the payment feature in the instant messaging app is expected to send shockwaves through the industry. Google pay is hoping to stay ahead of the curb with the introduction of their redesign. The new app will be more oriented on the frequent transaction processes between two accounts. The app has also become more user-friendly with the addition of chat options to google pay. This allows the user to have a seamless conversation with the sender or receiver and does not require the user to switch between a messaging app.
The new reigned logo features a wallet type icon with the classic google colors. The new interface looks more like a chat app. It also allows users to create groups to split the bill and has features that allow you to search vague terms to find transactions in the same way as google photos currently allow you to do. The redesign also has features to track analyze and budget your spending so that users have a clear idea of how much they are spending through the app.
Apart from all this google has also launched Plex, a mobile banking app integrated into google pay. With features like this and other customer engagement programs like the ‘Go India’ initiative and scratch cards, Google is hoping to have a firm foot when WhatsApp launches its payment option in their app.