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Google shuts down Plex, its mobile banking account service


Google shuts down Plex, its mobile banking account service



Last November, Google announced that it was launching a bank, checking or savings account through Google Pay, with no opening or maintenance costs, and users could link their existing bank accounts and credit cards. The service, called Google Plex and launched in cooperation with Citibank and other financial institutions, was pulled by the company before it was tested outside the United States.


In that country, Google has reached an agreement with eleven banks to operate Plex. The company's plans were to move this tool to other countries over the next few months, but they finally gave up on doing so and pulled Plex from their suite of services.


Initially, Google wanted to make Plex the first mobile service to open and manage bank accounts later. The technology company was responsible for programming and designing the application. For its part, the banks supported it and provided loans. In this way, Google provided a financial application service for those banks whose applications were not developed.


As a company spokesperson explained, they have decided to change their strategy regarding technology for financial use. This will not focus so much on the development of user-oriented services. On the contrary, the company prefers to provide banks and other financial institutions with technological infrastructures.


Despite everything, Google does not plan to abandon the development of technologies associated with the financial sector. As a spokesperson for the tech company stated, they recognize that there is "consumer demand for simple, seamless and secure digital payments for online and physical in-store transactions."

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