Posted on 01/23/2023 9:44:56 AM PST by SeekAndFind
Major US banks, including Wells Fargo, Bank of America, JPMorgan, and others, will push into the digital wallet space in the second half of this year to take on Apple Pay and PayPal.
Early Warning Services LLC (EWS), the bank-owned company that operates the money-transfer service Zelle, will be managing the new digital wallet, according to WSJ. The wallet has yet to be named but will be separate from Zelle and allow shoppers to pay at merchants' online checkouts with linked debit and credit cards.
EWS plans to offer the new digital wallet later this year and can handle up to 150 million debit and credit cards during the initial launch. Consumers in good standing with banks will be eligible for the new service.
The purpose of the digital wallet is to take on third-party wallet operators such as Apple and PayPal, according to people familiar with the matter. They said banks are concerned about losing businesses if a digital wallet is not released soon. Even though Goldman Sachs' consumer unit that manages the Apple Card is a money-losing business, there is a plan to launch a high-yield savings account and buy now, pay later program.
The move towards electronic and contactless payments has been gradual but could soon be thrown into hyperdrive if enough consumers adopt EWS' new wallet. It was during the Coronavirus pandemic when the government, Federal Reserve, and corporations urged people to avoid unnecessary physical transactions that increased the push toward a cashless society.
Recall the pivot toward a cashless society was clear as day. Perhaps the coin shortage during the pandemic was a test run. And anyone who dared mention a looming cashless society was deemed a 'conspiracy theorist.'
Just remember who is also shaping the world and influencing politicians and corporations away from a cash economy:
Dethroning cash as king. How digital payments are enabling a shift away from the cash economy
https://t.co/FUYE2KHVfn @WEFUpLink pic.twitter.com/QpRmA61JXz — World Economic Forum (@wef) February 22, 2022
The dystopic view is that a cashless society could mean governments and corporations will have even more control over our wallets -- and that's frightening.
Hundreds of people are reporting that lots of money is disappearing from their accounts at Bank Of America, and to a lesser extent (so far) at Wells Fargo, and no satisfaction when they question their ‘customer service’.
What do you want to bet that soon, those banks will say: “Well, your money is gone forever, nothing we can do about it.... But we will replace it with the same amount of our shiny new Digital Currency if you let our app take over control of your cell phone and computer. (and eventually let us implant a chip in you).”
Oh you mean like Zelle was going to take out the credit cards or something?
If I had a dollar for every new thing that banks were doing that was going to take out some other form of payment they don’t want to pay the fees for, I’d own a few banks.
[It will be wonderful when the government can track every transaction down to a single piece of bazooka bubble gum.]
It will save so much time at the grocery store! Reduce theft! More accurate! (2007-era commercials)
https://www.youtube.com/watch?v=wzFhBGKU6HA
https://www.youtube.com/watch?v=sgFLDfo7f5g
[https://www.youtube.com/watch?v=oAvQcYcvyaw]
Quite the interesting stuff today. The “new digital wallet” company has virtually the same name as an old Bible Prophecy movie warning about the Antichrist? Heh
(spoiler alert)
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In the movie, his credit cards get shut down
My story? Well, I was born.......
[And now Democrat policies threaten to put me right back in poverty!.....................]
Shut up and eat zee bugs! Chairman Klaus demands it.
Oh and you’ll be happy. And like it.
Thieves going , \o/ ,YES
I know several people who work in the Trades who work under the table and they are sweating it.
I already use my debit card through ApplePay.
I don’t really want another “app” on my phone.
And none of this is new ”digital currency.”
I got holes in both of my shoes
Well I’m a walking case of the blues
Saw a dollar yesterday
But the wind blew it away
Goin’ back to Houston, Houston, Houston
https://www.youtube.com/watch?v=6x3LJT3_X_4
Yeah, and there’s this too. Demonic GloBaalists like Schwab and Harrari want implants in everyone in the very near future.
4/22
“No more wallet? Hand implant allows people to pay with chip”
https://fox8.com/news/no-more-wallet-hand-implant-allows-people-to-pay-with-chip/
“Walletmor”
Welcome to the digital panopticon.
“Johnny’s Cash and The Smart Money Nightmare”
https://rumble.com/v1mu4fa-johnnys-cash-and-the-smart-money-nightmare.-the-end-game-for-dummies.html
Yeah like democrats want a full money trail not they only deal in cash.
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