Bank Partnership Competes with PayPal and Apple Pay
Bank of America Corp., Wells Fargo & Co., JPMorgan Chase & Co., will partner with four other banks to create a new digital wallet linked to debit and credit cards. The new wallet will compete with other services like PayPal or Apple Pay.
The bank partnership wallet will be managed by Early Warning Services LLC (EWS), a bank-owned company that already manages money-transfer service Zelle. The plan comes after EWS considered allowing customers to use Zelle for....