The Wall Street Journal: J.P. Morgan and PayPal hook up on bid to broaden mobile-payment reach

Two of the highest-profile companies providing mobile wallets in the U.S., J.P. Morgan Chase & Co. and PayPal Holdings Inc. PYPL, -1.03% , will now be partners as well as competitors under terms of a new deal set to be announced Thursday.

The agreement is expected to help broaden the reach of J.P. Morgan’s JPM, +0.14% Chase Pay service, a smartphone application the bank launched last year to drive usage of its credit and debt cards for in-store and internet purchases.

The deal, which is expected to be fully rolled out by 2018, will also make it easier for customers to load their J.P.

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