Florida bankers will be closely watching a new mobile banking service to be launched by three of the nation’s biggest banks to take control of the growing “P2P” payment industry — where consumers use mobile phones or e-mail to transfer money.
The new service is part of the continuing move to digital bank payments as customers drift away from checks and cash. Wells Fargo, Bank of America and JP Morgan Chase have gotten together to go after successful products like eBay’s PayPal with a new technology called clearXChange.
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