News Karnataka
Friday, February 03 2023
Technology

Plex service work halted by Google

Plex service work halted by Google
Photo Credit :

San Francisco: Tech giant Google has stopped working on its Plex service, which aimed to let users do their banking through the Google Pay app, the Wall Street Journal (WSJ) has reported.

Plex was supposed to let users sign up for checking or savings accounts offered by a variety of traditional banks that the user would then manage through the app.

Google cancelled the project due to a series of missed deadlines.  An executive who pushed for the project also left the company, The Verge reported citing the WSJ as saying.

Plex was not meant to put Google in direct competition with banks. This was according to information from its official announcement.

Google planned to partner with a variety of financial institutions. These would have provided accounts without monthly or overdraft fees and minimum balances.

Like some other online banks, Google’s app would have let users set things like savings targets and automatic transfers. Some of the banks Google planned to partner with included Citi and SEFCU.

In an email on Friday, Google told The Verge that it believes there’s demand from consumers. They need simpler ways to pay for things while shopping both online and in-person. It will now be focusing on “delivering digital enablement for banks and other financial services providers rather than us serving as the provider of these services”.

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published. Required fields are marked *

Rohan City Corp
Rohan City Corp

Find the best odds at 10Cric and ipl betting 2021! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp