Do you remember last year when Google announced it was going to start offering bank accounts, within Google Pay? And then everyone got upset? Well, Google has just killed off that product, before it even launched. It was called “Plex” and it won’t be happening. At least according to a report out of the Wall Street Journal.
Google and Citigroup (the bank that was working with Google for these bank accounts) have confirmed this report. So it is true that this is killed. A Google spokesperson stated that they are shifting focus to “delivering digital enablement for banks and other financial services providers rather than us serving as the provider of these services.” Citigroup confirmed that around 10,000 people were joining the waitlist each week, and that it had over 400,000 people on the waitlist.
This is, actually good news for Google
After Google announced that it was going to be offering bank accounts in the future, many antitrust threats were thrown at Google. Along with many wondering if they could trust Google with even more of their information. Because having a bank account through Google would mean that it could see your payments, and what you are spending money on. Even moreso than they can see with Google Pay.
A lot of tech companies have been looking to get into banking, and it seemed that Google was going to be the next one to follow suite. It’s unclear if Google’s ultimate reason for abandoning Plex is because of the antitrust threats, or if it was some other reason. Like the fact that it’s a lot harder to do than Google expected.
Either way, Plex is over. However, you can surprisingly still sign up for the waitlist for Plex. And the website in its entirety is still up. Though that likely won’t last very long.
The post Google Killed Its „Plex” Bank Accounts Before They Even Launched appeared first on Android Headlines.

Source: ndroidheadlines.com