America’s biggest banks have launched a money-transfer app to compete with PayPal, Venmo and Square Cash, Reuters reports. Zelle, developed by bank-owned Early Warning Services, is built on top of a payments network that connects the country’s five biggest banks — and others — including Chase, Citi and Bank of America. Another 20 banks will be added early next year. “This is about creating a wide, and inclusive, alternative to cash and checks for everyone,” says Early Warning Services chief executive Paul Finch.
- Amazon lets customers pay with their palm at two US retail stores
- Samsung lets German customers link any bank account to Samsung Pay
- One in five Japanese consumers to make mobile payments in stores this year
- Juniper forecasts “dramatic growth” in in-vehicle payments for fuel, parking and ecommerce
- Google Pay rolls out tokenized NFC card payments in India
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