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PayPal Isn’t a Bank, But It May Be the New Face of Banking

According to a WSJ article:

"By some measures, PayPal Holdings Inc. holds more customer money than all but 20 U.S. banks. What does that say about the future of banking? At the end of March, customers of PayPal held more than $13 billion in accounts at the online-commerce company. Under U.S. law, PayPal isn’t a bank, and those funds aren’t deposits, but cash that sits without earning interest for consumer s, ready to spend."

Where do you think banking is going?

And more importantly, is it about time?

http://www.wsj.com/articles/as-banking-evolves-fintech-emerges-from-the-branch-1464806411

Answers

Anonymous User
Title: CFO
Company: Local Government Agency
(CFO, Local Government Agency) |

Let's wait until after the next fed rate hike to see what happens. Banks may become more popular again. :-)

1504 views

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