Google Pay’s disastrous 12 months continues, promised checking account function is lifeless

The Google Play logo is flushed down a toilet alongside many dollar bills.

Enlarge / Google Pay continues to circle the drain. (credit score: Aurich Lawson / Ars Technica)

Google’s grand plan to launch Google Financial institution Accounts is lifeless. As a part of its huge relaunch this previous 12 months, the Google Pay division promised to launch “Plex,” a digital banking service from Google. After a disastrous 12 months for Google Pay that included a botched app revamp and an worker exodus from the division, although, a report from the Wall Road Journal now says Google’s checking account plans are lifeless.

Plex was formally introduced virtually two years in the past and closely promoted on the Google Pay web site and app, full with a waitlist customers might join. The service would have been a “cell first” banking app with bodily playing cards, much less charges, and plenty of spending visualizations. I wish to say one thing like, “I am unable to think about anybody wanting a Google Financial institution Account” given the privateness considerations and the way unstable new Google merchandise will be, however the Wall Road Journal studies that there have been 400,000 individuals on the waitlist.

Google was partnering with Citigroup, Stanford Federal Credit score Union, and some different banks for the service, and never all of them had been apparently in on the plan to cancel Plex. The Wall Road Journal report closes with a somewhat unhappy paragraph:

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