Several of our nation’s largest banks are concerned about the growing influence of PayPal. Over the past 10 years, PayPal has developed and earned the trust of a significant amount of consumers around the world. Recently, 3 of the nation’s largest banks have finally been reaching out to address PayPal’s growing influence. These banks are starting to deliver products and services that will allow consumers to move money and make payments online. Marketing research efforts conducted by these large banks show that consumers are decreasing the use of checks and cash.
After you have read the assigned textbook readings, read The Wall Street Journal article “Big Banks Join Battle for Online Payments.” In addition, you must research the topics “online banking” and “PayPal” in The Wall Street Journal, Fortune Magazine, and The Economist. Upload this assignment into the submission link and title your submission accordingly (LastName_BUSI614_Section#_Qualitative1).
· In a minimum of 1,500 words, describe the results of your assignment by using these level 2 headings to complete your essay:
o PayPal’s Competitive Advantage.
o Retail Banking’s Foray into Online Banking.
· While researching PayPal, pay particular attention to the articles that outline and describe PayPal’s competitive advantage over traditional banks.
· While researching online banking, pay particular attention to articles that outline and describe banks that are losing their influence as well as the new products and new services they are introducing (or about to introduce).
· Only research these sources with the following resources via Liberty University’s Online Library: Wall Street Journal, Fortune Magazine, and The Economist.