Google Pay Mobile Banking Update: If you were excited about the possibility of mobile banking through Google Pay, then I have some bad news for you.
The company has ended work on its Plex project and is not planning on adding mobile banking anytime soon. However, they are still looking for ways to integrate financial services into the app.
A Google spokesperson said Friday they ended work on Plex because it is still early days for mobile banking. The company says that there are more opportunities to bring financial services into the app, but they have nothing specific to announce at this time.
“We’re updating our approach to focus primarily on delivering digital enablement for banks and other financial service providers rather than us serving as a provider of these services,” the spokesperson said in response to an AFP inquiry.
“We strongly believe that this is the best way for Google to help consumers gain better access to financial services.”
Plex would have allowed the Pay app to perform a number of tasks, such as transferring money between accounts and making payments to merchants.
Google Pay Mobile Banking Update, Google’s spokesperson said that many companies have been interested in adding mobile banking into their apps, but customers are still early adopters for this technology.
The company is not the first tech giant trying to bring financial services into its app space. Amazon, Apple, and Facebook have all been working on ways to integrate financial services into their apps.
The company is still focused on adding more features to Google Pay in the future, but it looks like mobile banking will not be one of them.