Banks Plan Payment Wallet to Compete With PayPal, Apple Pay

The big banks want to take on PayPal in e-commerce, but that's harder than it seems

PayPal helped make it easy for consumers to store their payment information for online purchases. Now the banks want in on that game

JPMorgan, BofA, Other Banks Partner on Online-Shopping Wallet

Early Warning Services LLC, the payments company jointly owned by banks including JPMorgan Chase & Co. and Wells Fargo & Co., is developing a digital wallet in an effort to challenge PayPal Holdings Inc.’s dominance in online payments.

Big Banks Are Coming After PayPal and Apple With Digital Wallet

The banks already operate the peer-to-peer payments service Zelle. A Wall Street Journal report said the new wallet could be launched this year.

Major banks working to launch digital wallet to compete with PayPal, Apple Pay

The banks considered a plan to use Zelle for online shopping, but the proposal was axed due to concerns about fraud.

US Banks Join Hands to Launch Digital Wallet That Will Compete With PayPal & Apple Pay

According to recent reports, major US banks are collaborating to launch a digital wallet that will compete directly with PayPal and Apple Pay.

Bank of America, JPMorgan and other banks reportedly team up on digital wallet to rival Apple Pay

According to The Wall Street Journal, the digital wallet would be operated by Early Warning Systems, a joint venture from several banks that also runs Zelle.