Big banks' proposed digital wallet payment system likely to fail

A group of leading banks is partnering with payment service Zelle’s parent company to create their own “digital wallet” connected to consumer credit and debit cards to enable online or retail store payments.The new payment service, however, must compete with entrenched digital wallets such as Apple Pay and Google Pay that are embedded on mobile devices and already well established. It’s also not the first attempt for some in the consortium to create a digital wallet paym