Google scraps plans to offer 'Plex' bank accounts to users via Google Pay
Google scraps plans to offer 'Plex' bank accounts to users via Google Pay with 11 partners, including Citigroup and Stanford Federal Credit Union 'Plex' would have would have synced with Google Pay, and allowed for users to avoid monthly fees, overdraft charges or minimum balance requirements Plans for the service were abandoned due to missed deadlines and the April departure of Google vice president Caesar Sengupta A CitiGroup spokesperson said that nearly 10,000 people a week were joining a waiting list for 'Plex' that grew to over 400,000 people Despite the abandoned plans, Citigroup said it will 'look for other ways to work with Google in the future' Some partners did not get the memo and as of late last week some banks, including BMTX, were not aware 'Plex' did not have a future
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Google is dumping plans for its highly anticipated 'Plex' banking service, a digital checking account service, amid changing leadership at the tech giant and missed deadlines.
On Friday, the Wall Street Journal reported that plans were dropped just two years after Google announced users of the digital wallet Google Pay could sign up for bank accounts with 11 partners, including banking giants CityGroup and Stanford Federal Credit Union.
Set to debut in 2020, the continually delayed 'Plex' banking service would have synced with Google Pay, and would have allowed users to avoid monthly fees, overdraft charges and minimum balance requirements.
'Plex' would have synced with Google Pay, and allowed users to avoid monthly
