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Thank you. From Wondry, I'm David Brown, and this is Business Wars Daily on this Wednesday, February 1st.

As we see from time to time, competition can make strange bedfellows. Even the fiercest

rivals can come together when they have a common threat, and that's what's happening in the financial

sector right now. The biggest of the big banks, including J.P. Morgan, Wells Fargo, and Bank of

America, are teaming up to create a new digital wallet people can use to shop online,

according to the Wall Street Journal. The new product will take aim at the likes of PayPal and Apple Pay.

This isn't the first time these banks have worked together. Along with several other banks,

they own early warning services, which is the parent company of Money Transfer Service, Zell.

You've heard of that, right? The same company will create and manage this new digital wallet, which does not yet have a formal name, and it will

operate separately from Zell, which only lets users transfer money between accounts, the journal reports.

Since the pandemic, the mobile payments market has boomed as consumers first look

...