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 by Staff Writers San Francisco (AFP) Nov 18, 2020
A Google bank account? The internet giant said Wednesday it would be partnering with commercial banks and credit unions starting next year to allow users to manage mobile-based accounts through the Google Pay platform, in the latest move by tech giants into consumer finance. "People do almost everything on their phones today, but for many, the way they save, pay and engage with their bank has remained unchanged," said Caesar Sengupta, vice president of Google Payments. "That's why we're working with trusted financial institutions to create Plex, a new mobile-first bank account integrated into Google Pay." The Plex Accounts for US consumers will be offered with no monthly fees, overdraft charges or minimum balance requirements, according to Google, which said 11 banks and credit unions were participating. Google at the same time said it was updating its Google Pay app to help users better organize payments to people and businesses. "Instead of showing a stack of cards or a long list of transactions, the new Google Pay app focuses on the friends and businesses you transact with most frequently," Sengupta said. The initiative comes with tech giants moving deeper into personal finance with person-to-person payments and co-branded credit cards Apple recently launched its own branded credit card with Goldman Sachs which integrates into its Apple Pay application. Amazon, which has its own branded credit card, has discussed offering its own checking accounts but has not followed through with the plan.
Twitter, Facebook defend election rules at heated US hearing Washington (AFP) Nov 17, 2020 Facebook and Twitter defended their handling of US election misinformation at a heated congressional hearing Tuesday where one key senator assailed the platforms for being the "ultimate editor" of political news. The hearing, the second in less than a month, came with social media under fire from both the left and the right for their handling of political content during a bitter US presidential campaign. Facebook chief Mark Zuckerberg and Twitter CEO Jack Dorsey testified remotely to the session ... read more
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