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Google scraps its plan to offer banking services to its users

In 2020, Google announced that it would offer personal banking services to its users through the Google pay app. Google also had talks with Citigroup and Stanford Federal Credit Union to expand the offering. The tech giant has now announced that it abandoned the plan to launch personal banking services. The company wants to provide enablement for banking services to banks and other financial institutions. Other firms like Amazon, Uber also toyed with the idea but scrapped the plans. Apple is the only firm to successfully launch its credit card and is diving into the buy-now-pay-later activities lately.

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