03 . 10. 2021 , Maxim Shevchenko
Google has discontinued work on Plex, which aims to allow users to conduct banking transactions through the Google Pay app. The service was supposed to allow users to manage current or savings accounts opened with traditional banks through the application. According to the Wall Street Journal, Google canceled the project due to a series of missed deadlines and the fact that the leader who oversaw the project left the company.
theverge.com
According to reports coming before the company shared official information about the project, Plex was not intended to compete directly with banks. Instead, the search giant planned to partner with various financial institutions that would provide invoices with no monthly maintenance fees, no commissions, or no minimum balance. As with some other banking apps, the Plex service would allow features such as automatic payments or setting a savings goal.
On Friday, Google said it still believes there is a demand from consumers for easier ways to pay for items when shopping, as in the Internet and in real life. However, the company will now focus on providing opportunities for banks and other financial institutions, but will not act as a financial services provider itself.
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