Google has decided not to move forward with plans to offer mobile-first bank accounts to Google Pay users, an initiative that would have helped solidify the tech giant’s position as a serious finance market player.Dubbed Plex, née Cache, the system was designed to present Google Pay digital wallet users access to augmented checking and savings accounts from a number of major financial institutions including Citigroup. Accounts were expected to arrive without monthly fees, overdraft charges or minimum balance requirements.First unveiled in 2019 as a response to technologies like Apple Card and set to arrive in 2020, Google has unceremoniously killed the project, reports The Wall Street Journal. Read more…
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