JPMorgan Bets on MCX’s Payments Technology to Open Paths for Chase Pay
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JPMorgan Bets on MCX’s Payments Technology to Open Paths for Chase Pay
Continuing with the strategy of divesting non-core operations, JPMorgan Chase (NYSE:JPM) has agreed to acquire MCX’s payments technology to help expand Chase Pay, its smartphone-based payment system which allows consumers to pay retailers using their devices.
JPMorgan has bragging rights as the first top-tier bank in America to come out with a branded digital wallet. Earlier in 2015, the lender managed to partner with Merchant Customer Exchange (MCX), a consortium of retailers which includes big players such as Wal-Mart, Target, Best Buy and Shell.
This time however, the New York-based financial giant seems much more interested in MCX ‘s technology than the ... (read more)
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