Q&A: Fintech expert: digital wallets need this tech 'magic' or they'll fail

Bank after bank has unsuccessfully tried to compete with the likes of Apple Pay, Google Pay, PayPal, and other established digital wallet players. And now, a consortium of US banks, including three of the largest, hopes to cash in on digital wallets again.

The problem: what they’re apparently pitching doesn’t offer any real advantage for consumers, according to analysts who are relying on details given exclusively to The Wall Street Journal.

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