How We Monitor Our Payment Flows | J.P. Morgan
SUBSCRIBE: http://jpm.com/x/i/NFPWfK0\n\nJ.P. Morgan Treasury Services conducts daily penny tests to proactively monitor the health of our payments flows so client transactions are executed with accuracy, speed and transparency.\n\nAbout J.P. Morgan:\nJ.P. Morgan is a leader in financial services, offering solutions to clients in more than 100 countries with one of the most comprehensive global product platforms available. We have been helping our clients to do business and manage their wealth for more than 200 years. Our business has been built upon our core principle of putting our clients’ interests first.\n\nConnect with J.P. Morgan Online:\nVisit the J.P. Morgan Website: https://www.jpmorgan.com/\nFollow @jpmorgan on Twitter: https://twitter.com/jpmorgan\nVisit our J.P. Morgan Facebook page: http://facebook.com/jpmorgan\nFollow J.P. Morgan on LinkedIn: https://www.linkedin.com/company/jpmorgan\nFollow @jpmorgan on Instagram: https://instagram.com/jpmorgan/\n\n#jpmorgan\n\nHow We Monitor Our Payment Flows | J.P. Morgan
JP Morgan closes Chase Pay service
Starting next year, JP Morgan Chase customers will no longer be able to pay with their phones in stores.
American bank said it plans to close its Chase Pay app in early 2020. Mobile payments app launched in 2015 as Apple Pay was gaining popularity.
It should be noted that Chase Pay will not completely cease to exist. The service will be available for use on websites and applications linked to participating retailers.
The bank announced that it plans to add more retailers who accept Chase Pay through merchant apps, including food ordering company Grubhub.
In an interview with The newswire, Chase Pay CEO Eric Connolly noted that Since the launch of the service, the payment space and customer requests have changed a lot. Many sellers have switched to «buy online, pick up at the store» and invested in their presence on the Internet and mobile applications.
JP Morgan faced overwhelming competition from Apple. Apple Pay was accepted by 43% of iPhone users. Not coping with competitive pressures, Chase Pay was losing popularity.
On top of that, this week, in partnership with Goldman Sachs, the tech giant launched the Apple Card, breaking into yet another payments segment..