Is This the End of PayPal As We Know It?
Big traditional banks have often been criticized for being late to the party when it comes to integrating customer-friendly technology. That's one reason fintech has been one of the hottest investment areas over the past several years, attracting hundreds of billions of dollars in the name of making online payments easier.
But the big banks are starting to fight back. Early Warnings Services, the entity behind money-transfer service Zelle and backed by a group of large financial institutions, is launching a digital wallet later this year that will allow debit and credit card holders to check out at online merchants without entering their card details.
For a while now, PayPal Holdings (NASDAQ: PYPL) has been the undisputed leader in digital payments. Is this the beginning of its demise? Let's take a closer look.
Source Fool.com
