According to sources, Amazon is currently in discussions with JPMorgan Chase and other banks about creating a product similar to a checking account aimed at a younger demographic. These early stage talks may not result in anything tangible, and are not intended to turn Amazon into a bank. What the product would do is further integrate Amazon into its customers’ lives, from Whole Foods, Kindle, Alexa and its website. The new product would also potentially cut fees Amazon currently pays to banks and provide more customer data. Continue reading Amazon in Talks on Bank Product with JPMorgan, Capital One

Major stores including Walmart, Gap, Rite Aid and CVS will no longer allow the use of Apple Pay. Instead, these companies are trying to push their own app, known as CurrentC, which would enable customers to pay directly with their checking accounts. CurrentC would save the retailers money on credit card transaction fees, but consumers seem to have already adopted ApplePay. In the first 72 hours of the Apple Pay launch, the service registered one million credit cards. Continue reading Retailers Block Apple Pay Despite Early Popularity with Users