JPMorgan Chase is thinking about building an Internet-based payment system similar to PayPal, according to senior executive Heidi Miller. During an interview with Reuters, Miller hinted that "the bank has a payments steering committee studying the best way for it to take advantage of changes in the way consumers and businesses make and receive payments... The creation of PayPal is a good example of how big banks in general, with extensive knowledge of payment systems and with infrastructure in place, failed to keep up with smaller, nimbler companies." The move would put JP Morgan Chase in direct competition with eBay, setting up a potential battle between a 20th century titan and a 21st century colossus.