Large banks behind Zelle are partnering to create a digital wallet to compete with Apple Pay and PayPal.  “The pitch for consumers is an easier online checkout experience,” says Ted Rossman, senior industry analyst at Bankrate.  The pandemic revealed that shoppers preferred cashless transactions and still do.  Peer-to-peer payment apps — known as P2P — such as Zelle and Paypal’s Venmo, have become increasingly popular.  64% of Americans use peer-to-peer payment apps, and 81% of young adults prefer this method of payment.  The digital wallet will be managed by the banks and will be able to offer better fraud protection than retailers.  In addition, digital payments are generally more secure than credit card transactions due to its biometrics.  The good news is “they are already a regulated sector,” added Pam Dixon, executive director of the World Privacy Forum.