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Will Banks Eat Payments, or Will Payments Eat the Banks? Paypal and Chase Execs Discuss. (Full Video)

The banks and the peer-to-peer services aren't out to kill one another.

Asa Mathat

At the Code/Mobile conference earlier this month, Paypal’s Bill Ready and Chase’s Gavin Michael outlined visions for the future of digital finance that sounded pretty similar: Peer-to-peer services (like Paypal’s Venmo and Chase’s QuickPay) are increasingly critical for everyday use, and that trend doesn’t really spell doom for banks.

Onstage at The Ritz-Carlton in Half Moon Bay, Calif., Ready described Paypal’s role “as a technology enabler that can give people access to financial services, and not necessarily a provider of those services.”

You can watch full video of their conversation with Jason Del Rey below:

This article originally appeared on Recode.net.