Why The Big Banks Created Zelle

Competition among peer-to-peer payment apps like Venmo, PayPal, Cash App and Zelle have been heating up for the past 10 years. The big banks tried to compete in the space when PayPal first came on the scene 25 years ago, but their business models failed. Now, Zelle, a seven-bank platform, is outpacing its rivals in average transaction value. But a rise in reported fraud activity recently got the attention of Congress, with allegations that the banks aren’t supporting those affected customers.

Watch the video above to learn more about why the banks created Zelle and whether the app can hold its own against the the battle to win in the peer-to-peer payment space.

Apple Pay Is Killing the Physical Wallet After Only Eight Years | Tech News Briefing Podcast | WSJ

When Apple launched Apple Pay in 2014, it didn’t seem like the contactless payment system was much of a hit with customers. Flash forward eight years and the iPhone maker has convinced millions to make their smartphones their wallets.

WSJ “Science of Success” columnist Ben Cohen joins host Zoe Thomas to discuss what Apple’s slow-and-steady approach can teach the rest of the tech world.