Amazon may start a bank—and become a competitor to JP Morgan. Imagine if Macy’s or Walmart owned a bank. When a customer makes a large purchase, would that make them more appealing than your business? Financing an engagement ring?
Amazon already offers third-party backed credit cards (Chase), cash cards, and a digital wallet, and it’s exploring adding financial integration with its Alexa platform.Read the article about Amazon vs. JP Morgan here at wsj.com