Google withdraws from offering banking services through Plex
Google withdraws from offering banking services through Plex

Google has always offered payment services through Google Pay. However, the American giant hopes to provide complete control over banking services through the Plex service included in Google Pay.

But it looks like Google has canceled Plex's plans. The service will provide banking services such as working with banking groups around the world to set up checking or savings accounts. According to a Wall Street Journal report, the company has canceled the entire project.

Indeed, the project experienced many delays during the internal deadlines of its phases. In addition, the project manager left Google.

In principle, Google does not intend to compete directly with banks and financial service providers. On the contrary, she wanted to work with a number of banks to make special offers, especially in the USA.

This includes providing bank accounts with no monthly fees and no minimum account opening requirements. These services are already provided by many banks around the world. As part of the implementation of this project, Google has announced that it will work with Citi and SEFCU.

Google withdraws from providing banking services

Google confirmed to The Verge that it still believes that a large number of users increasingly require simple payment methods, especially when shopping. Either online or in the store. Thus, it will focus on providing better payment solutions rather than providing services on its own.

This may include the company's services to banks or service providers, but not the services provided. Unfortunately, Google pulled out of the online banking market so quickly.

Users around the world may need appropriate electronic banking services, both in terms of the quality and usability of the application and in terms of general banking services.

The company is notorious for not sticking to its own plans, having announced and then abandoned several projects over the past few years.

In addition to closing the Plex service, Google is also improving and expanding the Google Pay application, which, according to the company's credit cards, is currently used to make payments in most countries / regions of the world.

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