A spokesperson confirmed the Wall Street Journal report on Friday that the company has ended work on its Plex project, but continues to look for ways to integrate financial services. , Even if the online financial services market for everyday investors is heating up.

A spokesperson confirmed the Wall Street Journal report on Friday that the company has ended work on its Plex project, but continues to look for ways to integrate financial services. Plex will allow the Pay application to act as an interface for banks or credit unions, allowing users to access their savings and checking accounts. The Google development of this project comes from many Internet companies, from Amazon and PayPal to Square and Robinhood, and has been in the trend of providing financial tools for online shopping, lending or investment.

“We are updating our approach to mainly focus on providing digital support to banks and other financial service providers, rather than us as a provider of these services,” the spokesperson said in response to an inquiry from Agence France-Presse. “We firmly believe that this is the best way for Google to help consumers better access financial services.” Google said at the end of last year that it is working with more than a dozen credit unions and banks, including Citigroup, to incorporate its Pay mobile application available on Android smartphones into its Plex project.

The Pay application allows users to pay for transactions, send money to friends, store membership cards, etc. According to the Wall Street Journal, approximately 400,000 people are registered on Plex’s waiting list.

News Source : Telecom