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JPM JP Morgan challenges Square, Fiserv & PayPal. Bullish trend!

Long
NYSE:JPM   JPMORGAN CHASE & CO
JP Morgan launched QuickAccept, a service that will allow merchants to quickly take card payments through a mobile app or contactless card reader.

QuickAccept was designed by WePay, a payment startup which was acquired by JPMorgan, and offers same-day payment processing.

Unlike Square, which processes payments over a day and charges a 1.5% fee per transaction, QuickAccept is near-instant and costs users a flat, pay-as-you-go rate. Max Neukirchen, CEO of JPMorgan’s merchant services arm, said JPMorgan considers QuickAccept’s speed and lack of fee ” a great differentiator.” (borndigital.com)

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