Tag: J.P. Morgan Chase

PayPal Launches New Instant Transfer to Bank, Adding to Faster Funding Mix

Improving the merchant experience is a hallmark of the payment facilitator model. Technology advances have enabled faster, more streamlined experiences for many small and micromerchants.

WePay and Chase Partnership; First Data and BluePay Acquisition Finalized and Airbnb Launches Split Payments: News Roundup

WePay officially becomes a Chase company while First Data and Bluepay solidify their partnership as well.

Square empowers growing restaurants and Airbnb simplifies split payments.

Here’s your weekly news roundup!

Apple Wants Into P2P Payments, Talking With Chase, CapOne, Wells Fargo, U.S. Bancorp

In an attempt to control as much consumer payments as possible, Apple is in negotiations with J.P. Morgan Chase, Capital One, Wells Fargo and U.S. Bancorp to launch a bank-account-based P2P payments service, according to a Wednesday report in The Wall Street Journal. If successful, it’s value would be huge to Apple, but not on a per-transaction fee basis. The goldmine would be the data, the equivalent of knowing every check, money transfer and payment card transaction made by millions of its customers.

Beyond the privacy implications of a consumer goods company having so much consumer personal data—on top of whatever health data is being gathered through Apple’s Health app—there are also security concerns. The more avenues of access that exist into a bank account, the more chances there are for a glitch to withdraw more than expected or for the ultra-sensitive bank account routing numbers to leak where a cyberthief could see it.