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(Bloomberg) -- 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’s working on adding bank accounts from partners such as Citigroup Inc.
Google announced they are scrapping plans for their highly-anticipated digital checking account service 'Plex' after missed deadlines and the departure of company VP Caesar Sengupta.
There's a battle being waged by Square, Shopify, PayPal to dominate small business relationships. Who will win is yet to be determined, but banks are shaping up to be the big losers in this war.
In the fight for share of market, it was first a battle that had Walmart pursuing Amazon. Now Shopify joins in the fight for market share.
Google hopes that its extended range of online shopping options will give consumers much more scope when it comes to buying goods online. Demand is certainly there, with analyst EMarketer estimating that the e-commerce marketplace is set to grow to a value of $4.89 trillion worldwide over the course of this year. Online shopping The search giant now seems to have a more cohesive e-commerce and online shopping strategy in place, having tried and largely failed to exploit its potential in previous years. Compounding the growth in online sales transactions has been Google’s decision to get rid...