Gulf News

Google pulls plug on mobile banking plan

- (AFP)

Google has hit the brakes on a project to add mobile banking to its Pay app, even as the online financial services market for everyday investors heats up.

The company has ended work on its Plex project, but continues to eye ways to integrate financial services, a spokespers­on said on Friday, confirming a Wall Street Journal report.

Plex would have allowed the Pay app to act as an interface for banks or credit unions, allowing users to access their savings and checking accounts.

Google developmen­t of the project came as a number of internet firms, from Amazon and PayPal to Square and Robinhood, have been riding a trend of providing financial tools for shopping, borrowing or investing online.

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