Seven banks are uniting their efforts to create a digital wallet competitor to some of the giants in the industry.
part. That’s right, some of the biggest American banks are teaming up with Zelle — a money transfer service that launched in 2017 — to create the ultimate digital wallet.Wall Street Journal
This new service is to be run by Early Warning Services , owner of the currently established Zelle transfer service. The new solution is planned to launch in the second half of this year, and it will be a completely separate product to Zelle itself . And as of now, we don’t have a name revealed for you.
All that being said, we’ve got no clue how this new system will work, and what features it may offer in order to convert Apple Pay and PayPal customers into its own loyal following. The WSJ suspects that the entire thing may revolve around email addresses only. The user would type out their email into the merchant’s terminal, which would contact and check things with EWS, and then respond with a resolution or error.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
America's biggest banks are taking on Apple Pay and PayPal | CNN BusinessAmerica's largest banks announced plans Tuesday for an electronic wallet that will take aim at Apple Pay and PayPal.
Read more »
The big banks that brought you Zelle are building a new digital walletWhat they want you to use instead of Apple Pay or PayPal.
Read more »
Nearly 35,000 PayPal user accounts were hacked due to reused passwordsBetter never to reuse the same password across platforms.
Read more »
German cartel office initiates proceedings against PayPalGermany's cartel office regulator said on Monday it had initiated proceedings against payment company PayPal Europe over the possibility that it hindered competition.
Read more »
PayPal hacker attack exposes customer names and social security numbersKurt 'CyberGuy' Knutsson gives PayPal users some tips on how to protect their private information following the company's account breach back in December 2022.
Read more »