Tue. Oct 19th, 2021

Picture of an Android device with Google Pay logo

You can still pay for things with Google Pay, but you can’t open a bank account.
Pictures: Florence Ion / Gizmodo

Google has a reputation Murder Its products and this time the company has shut down a service that has not yet landed. The Wall Street Journal Report Which Google has Abandoned plan to give up You Open and manage a bank account with Google Pay.

Was the search giant Announced The feature is about two years ago, later Apples It turned on Credit card And jump on Facebook Cryptocurrency Bandgun

The service was first known as Cache, later renamed Plex. The program was expected to sync with Google Pay and offer a digital dashboard of where you would spend your money. It will also show you the built-in savings goals so you can withdraw cash. Google partnered with Citigroup and Stanford Federal Credit Union, which chose it because many of its employees have banked there. But the details of the checking account were slim, and Google didn’t even decide if they would charge a fee.

Plex It was supposed to be launched in 2020, but the epidemic pushed back the timeline. Then after the missed deadline and the Google employee in charge of the project came out, Google decided to drop the offer altogether. A reported 400,000 people are on Citigroup’s waiting list for Plex accounts.

A Google spokesman told the Wall Street Journal that the company would “focus on providing digital capabilities for banks and other financial services providers rather than acting as our providers of these services.”

It is unlikely that this is the end of Google’s personal money Ambition, As analysts expect Fintech Art To continue to grow over the next few years. Google has a great platform With Google Pay, which is the default contactless payment app on Android smartphones. You can use Google Pay to make payments online through supported stores.

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