RIP Traditional Banks — Long Live Digital Wallets

Banks don't know what to do with Digital Wallets… thankfully, Passfeed does!
By: Passfeed, Inc.
 
 
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* Technology

Industry:
* Shopping

Location:
* New York City - New York - US

Subject:
* Features

NEW YORK - July 26, 2019 - PRLog -- Digital wallets have seen a recent surge in popularity around the world. China, Norway, the UK, Japan and Australia are just some of the countries that have seen and embraced the notion that the future of banking and shopping is now.

Many US banks have dabbled in the mobile wallet game and some have fared better than others. Citi Bank, American Express and Wells Fargo, for instance, all offer Apple Pay, Google Pay and Samsung Pay. Bank of America and Chase accept all three as well as Paypal.

The few times this move was attempted by major banks was met with failing results. Capital One had its Capital One Wallet app but recently discontinued it and CitiBank's Citi Pay Masterpass is going to be discontinued on August 31st of this year.

Banks' partnerships with third party vendors means that you are providing your PII (Personally Identifiable Information) to multiple sources. With Passfeed's Digital Wallet, you enter your information once and that's it. A one-stop-shop to get started on all that the App's mobile wallet has to offer.

FinTech, short for Financial Technology, describes a business whose goal is to provide financial services by utilizing software and modern technology. Passfeed has evolved to the point where it has branched out into the FinTech world and it looks to make a significant impact on how its users can take control of their finances.

Digital Wallet technology is still fairly new to the US and banks have been slow to accept all that it offers. Passfeed, on the other hand, saw right away the potential Digital Wallets have and how they will change how we organize our finances. Banks may be taking longer to get with the Digital Wallet program, but Passfeed is privy to take advantage of all that mobile wallets have to offer, and customers are reaping all of its benefits.

About Passfeed

Founded in 2018 by start-up entrepreneur, Richard Wang, Passfeed is reinventing online shopping. Our Fintech/eCommerce experience combines the best features of social shopping and banking. Consumers can shop, store and send money, share gift certificates and even take advantage of our Paylater service. The social sharing capabilities rewards our users with earned iPoints — which are then used to save money on additional purchases. With the motto "Never be boring" as a guide, Passfeed is the future of shopping and banking today!

You can learn more about Passfeed by logging onto www.Passfeed.com or by downloading the App for free at (https://itunes.apple.com/us/app/passfeed-local-shopping-a...) https://apps.apple.com/us/app/passfeed (https://apps.apple.com/us/app/passfeed-local-shopping-app/id897068725) for your iOS device.

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If you would like more information about this topic, please call: Dennis Sary, Marketing Director at (929) 332-2099, or email at dennis@passfeed.com.

Media Contact
Dennis Sary
Marketing Director
dennis@passfeed.com
(929) 332-2088
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Tags:Technology
Industry:Shopping
Location:New York City - New York - United States
Subject:Features
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