Page 6 - Caesar Sengupta News Today

When Google released its overhauled Google Pay service last year, one of the things they announced is that they will offer a mobile-first bank account called Plex. They were supposedly partnering with several banks and financial institutions to offer a bank account with no monthly fees or overdraft charges. But now they have scrapped plans […]

Pandemic-related delays and the departure of the projects executive sponsor have made Plex no longer worth chasing. ...

Alphabet Inc’s Google is shelving plans to add bank accounts to its payment app, becoming the latest tech giant to dial back its ambitions for financial services. For years, Google has said it is working on adding bank accounts from partners such as Citigroup Inc and Bank of Montreal to its revamped app. The idea was that Google Pay users would be able to use the app to apply for so-called Plex checking and savings accounts from 11 banks. “Our work with our partners has made it extremely cle...

Google Pay has abandoned its plans for a mobile-friendly finanical service called "Plex," which would have given bank accounts to its users.

Those who dreamt of having a Citi-backed Google bank account? Yeah, those dreams were just crushed. Google has abandoned the project.

The tech company has abandoned plans to offer checking accounts in partnership with banks and will instead focus on being a technology provider for them. Citigroup says it will press ahead with aspects of the digital banking project on its own.

Google has decided not to move forward with plans to offer mobile-first bank accounts to Google Pay users, an initiative that would have helped solidify the tech giants position as a serious finance market player.

Alphabet Inc’s Google is shelving plans to add bank accounts to its payment app, becoming the latest tech giant to dial back its ambitions for financial services.

Google has canceled plans to offer bank accounts to its users, the company confirmed. 

Google has decided not to move forward with plans to offer mobile-first bank accounts to Google Pay users, an initiative that would have helped solidify the tech giant's position as a serious finance market player.