Google previously announced its intention to incorporate a new mobile banking feature into the Pay app. This would allow users to not only make payments, but also save money and carry out transactions with others using Google Pay. However, they have now shifted their focus. A representative from Google stated that they are updating their approach to concentrate on providing digital enablement for banks and other financial service providers rather than offering these services themselves.
Initially, Google developers were working on a project called Plex, but now, the emphasis is on launching the design. The main purpose is not to create a Google mobile banking service, but to enable users to easily check their accounts and view their savings on their existing cards, especially for those who primarily use Google Pay for payments. This eliminates the need to open a separate bank app to check the account balance.
A Google spokesperson mentioned that this new approach is aimed at helping consumers access financial services more efficiently. The reaction from users to this update remains to be seen, and the results of the Plex project are awaited. Despite this shift, the idea of mobile banking could still have potential, given the current growth in online financial platforms and active investors. It is possible that Google may revisit this development in the future.
The updated Plex account now allows users to view checking and savings, add or transfer money, and even lock cards. This is just the initial release, suggesting that more features may be added by developers soon. What are your thoughts on the Google Plex project? Will it be user-friendly? Share your comments below to share your thoughts on this topic.
