The retail banking industry is undergoing another major shift, and the future looks high-tech, sophisticated, and, for big banks, very urban. So what has changed? Photo: Shaumbé Wright/The Wall Street JournalPayPal Holdings Inc. is nudging its customers closer to mainstream banking services. The San Jose, Calif.-based payments company has been quietly reaching out to groups of customers in recent months with an offer to add basic banking features to their PayPal digital wallet. The features include Federal Deposit Insurance Corp. insurance for their balances, a debit card that can be used to withdraw cash at ATMs and the ability to direct-deposit their paychecks.

Source: Wall Street Journal April 09, 2018 09:39 UTC