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Wells Fargo plans to launch mobile-wallet service

Wells Fargo plans to launch mobile-wallet service

The burgeoning mobile-payment industry that allows consumers to buy stuff in stores with their smartphones has been led by technology giants such as Apple Inc. and Alphabet Inc.’s Google.

Now, Wells Fargo & Co. wants a piece of the action.

The San Francisco-based bank is expected to announce Tuesday that its Wells Fargo Wallet will be available this summer for customers who download the bank’s app on their Android phones. The bank said about 5 million, or 38%, of its app customers have such phones.

“We want customers to use their Wells Fargo accounts,” said Jim Smith, executive vice president and head of Wells Fargo Virtual Channels....

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