Google's Plex service has been stopped. This service was intended to allow you to do your banking through the Google Pay application. Instead, plex should allow users to register for saving or checking accounts offered by numerous traditional banks that are manageable through the app and chosen by users.
A report by Wall Street Journal says that there's a reason behind why google canceled the project, which is an executive forced for the project left the company and the series of missed deadlines.
Before the company revealed the program and data through official announcement reports came, and according to these reports, Plex wasn't intended to place Google in direct competition with banks. Rather, Google planned to collaborate with a financial institution's variety that would provide accounts without any minimum balances without monthly or overdraft fees.
Similar to any other bank, the app from Google would allow users to set everything, including automatic transfers and saving targets. A few banks Google intended to partner with SEFCU and Citi.
Google said itself that it hopes consumers would demand easier methods to pay for everything during shopping in-person and online. However, it'll currently be focusing on providing digital enablement for not only banks but other financial service providers instead of offering these services providers.
Then, at some point, possibly we will see a few of Plex's features display in Google Pay. Otherwise, we probably see Google keep working on the Google Pay app redesigning. It would, however provide more traditional banks incentive for mobile app game setup and better feature like getting axed doesn't give any value with getting axed.
However, a lot of options are available for people who want to use online banking with different apps, and it's shocking to see that Google actually canceled and paused the project. It might be best that Google stopped working on this project if it wasn't about to commit to it.
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