As these payment apps and services grow in number and use, banks could lose out on billions in transactions. Consumers worldwide are increasingly using digital wallets to complete transactions both online and while in-store shopping, which means that banks stand to lose out on billions in transactions that would traditionally have belonged to them. What has yet to be seen is if those banks will pivot to keep up with their primary online competition. As digital wallets such as PayPal, Apple, and others are adopted at a rapid rate in…
Read MoreDigital wallets could prove very expensive for conventional banks
