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Early Warning Services LLC, which is owned by a group of banks including JPMorgan Chase, Wells Fargo and Bank of America, is behind the new digital wallet called Paze. The banks are trying to compete against the likes of Apple Pay and PayPal at online checkout.
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The wallet's success will also depend on how many merchants agree to use it. Many checkout pages already offer a dizzying number of payment options, including the old-school but still popular option for consumers to type in their card numbers every time they shop.
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