Come January and the web app of Google Pay will no longer be available for peer-to-peer payment transfer. Not just that, but Instant money transfers will attract a fee from Jan 2021. The money transfer facility will continue to be available on the new Google Pay app.
Google Pay App will Cease to Work from Jan 2021
Google stated that from next January onwards, the Google Pay app will cease to work. It further stated that while peer-to-peer payment will no longer available on the web app, you can still use the web app to manage modes of payment.
Google Slaps Fees on Instant Money Transfers through Debit Cards
Users using the instant money transfer facility will have to pay a transaction fee on every transfer from January onwards. The transfer fee would be $0.31 or $1.5% whichever is higher when transferring money using a debit card. The fees, however, won’t be applicable when payment is made through a linked bank account.
Google to Introduce Plex
Google has recently added several features to its pay app for iOS and Android users. The new features are currently available only for US users.
Google is also said to be working with reputed financial institutions for creating Plex to integrate mobile with the first bank account in Google Pay. The new transfer fee on transfers from debit card transactions will not go well with the users. It compels the users either to pay the fee or to compulsorily link their bank account with Google pay.