Google, in recent years payment methods started to make significant investments for Finally, the firm Google Plex project It was planning to offer bank accounts to its users. However, obviously the technology giant has decided to pull the plug on this project as well. Despite this, Google has not withdrawn from the financial market.
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Why was the Google Plex project cancelled?
The tech giant actually has a hefty file on unplugging projects. Many technology projects that have never ended so far have been trashed by Google. Especially Search Project namely, the modular smartphone project is among the most well-known. Google Plex project It started to be talked about two years ago.
With this project, Google provides its users with the agreed banks. digital account opening He planned to offer the opportunity. According to this Plex digital account, banks would be exempt from fees such as account fees or overdrafts. Google even made an agreement with Citibank for the project, which is quite attractive on paper.
It all started with the resignation of the manager at the beginning of the project in April. In fact, the project that should be commissioned in 2020, Covid-19 adversely affected the conditions. When the jams in the calendar combined with the separation in April, the project started to get longer. Google now decided that this project was inefficient and pulled the plug.
Google, on the other hand, is in financial markets. Google Pay He wants to be actively involved with. of course Plex Google does not want to compete with banks in financial markets. The company seeks to provide banks with digital opportunities in terms of payment methods. However Google Plex It is a matter of curiosity how the company will follow after this. Earlier in 2013 Google Pay Debit Card The company, which appeared with us, canceled this card in 2016. In short, Google does not seem to be willing to give up in terms of payment methods.
Google is notorious for shutting down some services it has provided for years, apart from its projects. Offering free RSS service for many years Google Feed one of these. Again, the project of presenting the internet with a balloon was shelved before. In short, even though Google invests heavily in the world of technology, it can overlook many projects.