It's called “ClearXchange” and it's a new online banking service. It was born from a joint venture between three of the most important American banks: Bank of America, JPMorgan Chase and Wells Fargo. "Our customers will be able to move their money in a safer and more convenient way - the institutions say - just use a mobile phone number or an e-mail address". The headquarters of “Clearxchange” will be in North Carolina. It will be led by John Feldman of Bank of America.
The financial terms of the transaction were not disclosed. In any case, it is a strategic move, which comes just as another battle of global dimensions is underway on the net. EBbay, Paypal and Google are competing in the field of mobile payment services.
“Our customers increasingly want to switch from paper to electronic – said Mike Kennedy, who developed the payment strategies from the base of Wells Fargo, in San Francisco, and today presides over this new initiative -. If we are able to meet the different financial needs, we will have better and better customers”.
To learn more:
http://online.wsj.com/article/SB10001424052702304066504576343870105406768.html
