Digital wallets like Apple Pay are continuing to grow in popularity. Banks are worried they’re losing ground to tech companies eager to gain market share in consumer payments.

One of traditional finance’s biggest threats is Apple. Here’s how big banks are fighting back.

0:00 How digital wallets like Apple Pay work
0:43 How banks are competing against Apple Pay
3:45 Can banks succeed in creating their own digital wallets?

News Explainers
Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day's biggest stories into bite-size pieces to help you make sense of the news.

#ApplePay #DigitalWallet #WSJ