Google pulls plug on plan for mobile banking in Pay app


Team Udayavani, Oct 3, 2021, 9:50 AM IST

Google has hit the brakes on a project to add mobile banking to its Pay app, even as the online financial services market for everyday investors heats up.

The company has ended work on its Plex project, but continues to eye ways to integrate financial services, a spokesperson said Friday confirming a Wall Street Journal report.

Plex would have allowed the Pay app to act as an interface for banks or credit unions, allowing users to access their savings and checking accounts.

Google development of the project came as a number of internet firms, from Amazon and PayPal to Square and Robinhood, have been riding a trend of providing financial tools for shopping, borrowing or investing online.

“We’re updating our approach to focus primarily on delivering digital enablement for banks and other financial service providers rather than us serving as provider of these services,” the spokesperson said in response to an AFP inquiry.

“We strongly believe that this is the best way for Google to help consumers gain better access to financial services.”

Google said late last year that it was working with nearly a dozen credit unions and banks, including Citigroup, for inclusion in its Plex project for its Pay mobile app available on Android smartphones.

The Pay app allows users to pay for transactions, send money to friends, and store loyalty cards, among other advantages.

About 400,000 people had registered on a waiting list for Plex, according to the Wall Street Journal.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

India beat Australia by six wickets in 3rd T20I, clinch series 2-1

Shikaripura: 11-month-old baby dies after falling into water tank

Boat carrying Hindu devotees to historic temple capsizes in Bangladesh; 24 killed, several missing

Petrol bomb attack: Two SDPI functionaries arrested

Lalu, Nitish meet Sonia; say focus on uniting opposition parties to defeat BJP

Minor boy physically assaulted, sodomised by 3 friends; DCW issues notice to police

‘Mankading’: How India’s first post-Independence superstar cricketer still gets maligned


Related Articles More

Can we really deflect an asteroid by crashing into it? Nobody knows, but we are excited to try

Scientists engineer mosquitoes that can’t spread malaria

Approaching storm may delay launch try for NASA moon rocket

ISRO develops microprocessor-controlled smart limbs

Saudi’s human space mission to launch its first woman astronaut into space in 2023

MUST WATCH

Creative PU College Moodabidri

Lighiting at Uchila Mahalakshmi Temple

Health Minister K Sudhakar Statement about paycm

How to grow Avocado

Dasara Celebration in Uchila Mahalakshmi Temple


Latest Additions

India beat Australia by six wickets in 3rd T20I, clinch series 2-1

Ali Abbas Zafar, wife Alicia welcome first child

Shikaripura: 11-month-old baby dies after falling into water tank

Boat carrying Hindu devotees to historic temple capsizes in Bangladesh; 24 killed, several missing

Petrol bomb attack: Two SDPI functionaries arrested

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.