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PYPL / PayPal stock dips after report says big banks are working on a competitor wallet

Shares of PayPal Holdings Inc. PYPL, +3.05% were off more than 1% in premarket trading Monday after The Wall Street Journal reported that the big banks were working on a digital wallet meant to ease the process of purchasing online with debit and credit cards. Wells Fargo & Co. WFC, +2.26% , Bank of America Corp. BAC, +1.87% , JPMorgan Chase & Co. JPM, +0.24% , and several other banks are teaming up on this yet-to-be-named wallet, which will be managed by Zelle operator Early Warning Services LLC. Read More

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Posted: Jan 23 2023, 07:41

Author Name: Market Watch

PYPL News

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