Google has decided not to go ahead with its new current account, Plex.
In Brief:
The Wall Street Journal has reported that Google will no longer be creating a current account within the Google Pay app.
The project was being developed in partnership with Citi.
400,000 people were on the waiting list to use Plex.
What does this mean?
Google says it is shifting its focus over from a customer-facing service to B2B technology. It will now focus on “delivering digital enablement for banks and other financial services providers rather than us serving as the provide of these services”.
