Better Late Than Never? US Banks Are Trying To Enter Venmo Territory
America's largest banks will launch their own mobile payment app next year to compete with popular existing apps like Venmo.By Lindsay Gloor | October 24, 2016
The service previewed Sunday at the Money20/20 payments conference, and it's backed by big banks like JPMorgan Chase & Co., U.S. Bancorp and Citibank through the financial risk management company Early Warning.
Zelle will allow users to send money online or on their mobile devices. But the service will be entering a tough market.