Last November Google announced that was launching through Google Pay a bank accountGoogle Pay, current or savings, without opening or maintenance costs and to which users could link their existing bank accounts and credit cards. This service, called Google Plex and launched in collaboration with Citibank and other financial institutions, has been withdrawn by the company before being tested outside the United States.
Google has decided to halt the development of Plex, a Google Pay service that allowed you to open a bank account and manage it from your mobile phone
In that country Google had reached an agreement with eleven banks to implement Plex. The company’s plans were to the company plans to bring this tool to other countries over the next few monthsbut finally they have desisted from doing so and withdraw Plex from its portfolio of services.
Google originally wanted to make Plex the first mobile service for opening bank accounts and then managing them. The tech company was in charge of programming and designing the app. The banks, for their part, backed the app and provided the credits. In this way, Google provided a financial app service for those banks that did not have their own app developed.
As explained by a spokesperson for the company, they have decided to to change its strategy with respect to technology for financial use. It will no longer focus so much on developing user services. Instead, the company prefers to provide technological infrastructures to banks and other financial institutions.
Despite everything, Google does not plan to abandon the development of technologies linked to the financial sector. As stated by a spokesman for the technology company, they are aware that there is “a demand from consumers of simple, seamless and secure digital payments for online and physical in-store transactions.
