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WSJ: Amazon in talks with banks to create checking account

Amazon.com Inc. is considering a "hybrid-type checking account" for its younger or unbanked customers, The Wall Street Journal reported March 5, citing "people familiar with the matter."

It has already received proposals for partnerships from JPMorgan Chase & Co. and Capital One Financial Corp., among other big banks, the report stated.

There are no other details yet on what the final product will include. Amazon is not interested in becoming a bank, according to the WSJ.

The online retailer is also working on getting brick-and-mortar stores to accept Amazon Pay, after its limited adoption at other online retailers, the WSJ's sources added.