US Banks Are Terrified of Chinese Payment Apps

If mobile payment apps became as popular in the US as they are in China, banks would lose a projected $43 billion in revenue annually. Bloomberg QuickTake explains how cheap and easy payments by phone are threatening one of the banking industry’s most profitable businesses.

If mobile payment apps became as popular in the US as they are in China, banks would lose a projected $43 billion in revenue annually. Bloomberg QuickTake explains how cheap and easy payments by phone are threatening one of the banking industry’s most profitable businesses.

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