Visa and JPMorgan Chase are launching apps for contactless payment system for sellers

News

Visa and JPMorgan Chase are launching apps for contactless payment system for sellers

28.10.2020 News

On Tuesday, JPMorgan Chase announced the launch of its mobile payment service QuickAccept, and on Wednesday, Visa launched its application called Tap to Phone.

The purpose of both programs is to offer sellers an easy way to accept contactless payments from customers via a smartphone or tablet.

According to Visa, in the context of the global COVID-19 pandemic and social distancing, the growth in the use of touch payment technology has increased by 40% this year. A recent company survey found that 48% of consumers said they would not shop at a store that only accepts cash.

The world’s largest payment processing company Visa has launched the Tap to Phone app in 15 markets, including European countries, with plans to expand in the US and other markets.

The app will soon appear in Brazil, Italy, the United Arab Emirates and the United Kingdom. The launch of Tap to Phone in the US is scheduled for 2021.

The launch of Tap to Phone follows a pilot implementation with Samsung last year.

The application allows Android devices to serve as tools for accepting payments by bank cards of the international standard EMV (Europay, MasterCard and VISA) without any other additional equipment.

According to a Visa study, less than 10% of the 180 million micro and retail merchants worldwide can accept digital payments. A Visa survey found that 63% would likely use Tap to Phone for their business, while about 50% of consumers said they would use it if offered.

The launch of the QuickAccept mobile payment service opens up great prospects for JPMorgan and will allow the bank to compete with mobile payment companies such as Square and PayPal.

This move by JPMorgan, the largest US bank in terms of assets, marks an even greater immersion in the fin-tech field of large banks.

Jen Roberts, CEO of Chase Banking, said in an interview with CNBC that the bank will transfer most of its more than 3 million small business customers to the new service. At the same time, the service will be aimed at customers with an annual income of less than $ 500,000 who want to avoid paying an instant transfer fee.

Visa shares, which rose up to 19.26% over the past six months, fell nearly 2% over the past week.

Shares of JPMorgan Chase have fallen to 28.7% since the beginning of the year, but have risen up to 11% over the past 6 months.

Other articles

  • Exxon Mobil announces record depreciation of its gas assets by $ 20 billion
    News

    Exxon Mobil announces record depreciation of its gas assets by $ 20 billion

    The American oil and gas giant Exxon Mobil had one of the worst years in its history. Exxon shares have fallen by 45.36% since the beginning of 2020. The company has lost money for three quarters in a row, and in August they were excluded from the benchmark index of “blue chips” Dow Jones Industrial […]

  • PayPal has expanded its cryptocurrency service to all US users
    News

    PayPal has expanded its cryptocurrency service to all US users

    PayPal Holdings has fulfilled its promise made last month by making its PayPal Cryptocurrency application available to all registered users in the United States. On October 21, the service was launched in test mode for a limited number of users. Commenting on the November 2 financial report, PayPal CEO Dan Shulman said that only 10% […]

  • General Motors reports profit growth of 74%
    News

    General Motors reports profit growth of 74%

    Shares of General Motors, down by 3.7% since the beginning of the year, rose by 3.9% in trading after the company announced the results of the 3rd quarter, which ended on September 30. General Motors reported earnings per share increase of 65% to $ 2.83, which was higher than analysts expected $ 1.38. The amount […]

  • The net loss of the world’s largest cinema network increased 16.5 times in the third quarter
    News

    The net loss of the world’s largest cinema network increased 16.5 times in the third quarter

    AMC Entertainment Holdings, which owns the world’s largest network of cinemas, presented its financial report for the third quarter of 2020. His company ended with a net loss of $ 906.5 million – 16.5 times worse than last year. In the third quarter, the company’s cinemas began to reopen after a five-month of lockdown due […]

  • The third quarter of Alphabet showed growth in search advertising revenue and strong growth in YouTube
    News

    The third quarter of Alphabet showed growth in search advertising revenue and strong growth in YouTube

    Shares of Alphabet, which rose 18.2% over the past 6 months, rose 9% after closing trading on Thursday when the global advertising giant announced significant improvements in the reporting quarter. Google’s parent financial report far exceeded analysts’ expectations and showed a resumption of advertising revenue growth after reporting a drop in revenue for the first […]

  • Chevron made a net loss of $ 4.9 billion in nine months
    News

    Chevron made a net loss of $ 4.9 billion in nine months

    The net loss of the second largest American oil and gas company Chevron, which accounts for the parent company, in the first nine months of 2020 amounted to 4.878 billion dollars against a profit of 9.534 billion dollars a year earlier, the company said. The diluted loss per share was $ 2.63 against earnings of […]

  • AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
    News

    AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers

    Shares of AT&T, which have lost 27.6% of value since the beginning of the year, rose up to 5.8% on Thursday after the publication of better-than-expected Wall Street analysts, earnings for the 3rd quarter, which ended on September 30. AT&T reported earnings per share of $ 0.76, which is 19% below last year’s value, but […]

Read also

Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
News

Coca-Cola cannot produce kvass in Ukraine during the next two years

The Antimonopoly Committee of Ukraine ordered the Irish “daughter” of Coca-Cola to refrain from the competing with the “Kvass Beverages” company, which it  sold to the Nova Intertrade Ltd company (Belize) for two years. “The European Refreshments company undertakes not to exercise, not to have a stake, and not to contribute to competitive activity in […]

Next
Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
News

Newell Rubbermaid bought the rival company Jarden Corp for $ 13.2 billion

Union of the two big companies will create a major new giant in the consumer sector in the USA. According to analysts, the company will receive an annual income for more than $ 16 billion. The public learned about the unification of the companies at the beginning of December 2015. Newell Rubbermaid owns the brand […]

Next
Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
News

The Japanese company Fujikura opened a plant in the Lviv region

The opening of the plant of the Fujikura company in Ukraine should be a strong signal to all investors willing to believe in our country. The President of Ukraine Petro Poroshenko wrote about this in his Twitter after the opening of the new plant of Fujikura  in village Pidryasne near Lviv. “You will not find […]

Next
Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
News

The Tesa company sold shares to Investbank

The Tesa company (LLC) sold shares of Investbank to Alexey Kotovskyi. There was a requirement of the National Bank ownership structure. This was announced on the bank’s website. At the moment Alex Kotovskij owns 41.2% of the share capital of the bank. The financial institutions report says that the National Bank held an additional issue […]

Next
Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
News

“Brooklyn-Kyiv” will build a terminal in the port of Ilyichivsk for $ 200 million

The stevedoring company “Brooklyn-Kiev” is going to invest $ 200 million in the construction of a grain terminal in the port of Ilyichivsk. This is stated in the message of the seaport. “Brooklyn-Kyiv” emphasizes that the company comes into the port of Illichivsk not only with the  investments, but also with its know-how in the […]

Next
Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
News

The Investment company Prosperity Capital Management increased its stake in the agricultural holding MHP

The investment company Prosperity Capital Management has concentrated 7.93% of global depositary receipts (of GDR) of the largest Ukrainian producer of poultry – agricultural holding “MHP” (MHP). According to a report on the website of the London Stock Exchange on Friday, now the company owns 8,000,000 789,186 GDR. According to the information at Prosperity Capital […]

Next
Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
News

Singapore Airlines makes a deal on the acquisition of Tiger Airways

One of the largest airlines in Singapore  – Singapore Airlines recently named the price for the shares in the acquisition  of the budget carrier Tiger Airways, which is about $ 0.10 per share. Today the Singapore Airlines company already owns a 77% stake in the Tiger Airways, a final deal on the acquisition  initially planned […]

Next
Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
Analytics

Court resolves not to give money for IOUs

If the promissory note is not specified by the time when the borrower is obliged to return the money, the court may grant derogation from the obligations under this document. In order to get money for the receipt, it is necessary to properly arrange it, Vesti reported. Do not give money on the receipt, in […]

Next
Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
News

Vinnytsia network of pharmacies reacquires 18 million of shares

The supervisory board of Vinnitsafarmation in the press release reported:” Vinnitsafarmation which owns ‘Bazhayemo zdorovya’ network of pharmacies , intends to reacquire 18 million of common shares PJSC ‘Vinnitsafarmatsyia’ intends to redeem 18 million of common nominal shares”. PJSC ‘Vinnitsafarmatsyi’a plans to make the relevant decision at extraordinary general shareholder meeting which will take place […]

Next
Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
Analytics

Politics and taxes: how Trump’s win to change USA tax system

The world has heard  enough discussions which concern the resonance Donald Trump’s win in the USA elections.  Everyone has the right to express their position. America  has done their choice. Now, when the post-electorial   ethereal has gone, it is the high time to speak constructively. Benjamin Franklin, one of the founders of American Constitution,   declared: […]

Next
Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
News

Johnson & Johnson suspends the study of the COVID-19 vaccine due to unexplained disease in the participant

Shares of the Johnson & Johnson may slow because the last stimulus to it was the company’s transition to the final clinical trial of the vaccine against COVID-19 on September 23, after which the shares rose by more than 5%. However, as of Tuesday, before the opening of trading, the price of J&J shares did […]

Next
Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
News

Lufthansa has announced large-scale job-cuts

By the end of this year, the German airline Lufthansa intends to reduce its foreign staff by 20 thousand people, as well as sell its LSG division, which deals with on-board catering, which employs 7.5 thousand people. Lufthansa subsidiaries Eurowings, Swiss, Austrian and Brussels Airlines are reducing the frequency of flights, fleets and staff amid […]

Next
Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
News

Norway will invest $ 362 thousand in the agro-industrial complex of Ukraine

Ukraine has made great efforts to create a new development strategy of its agri-food sector. Norway helps to bring this strategy to life by funding a project of the Food and Agriculture Organization (FAO). It is reported by the press service of the FAO. Norway’s contribution of $ 362 thousand will enable FAO to provide […]

Next
Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
News

Eurobonds of Ukrzaliznytsia are the most highly profitable investment in 2015

The Bloomberg  News agency estimated the yield a wide range of assets in 2015, ranging from currencies and stock indexes, to commodities and junk bonds. It is in the segment of junk bonds (junk, high-yield bonds) determined the most profitable asset last year – Eurobonds of Ukrzaliznytsia with maturing in May 2018. Investments in this […]

Next
Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
News

The Polish company Green Factory wants to grow vegetables in the Zakarpatsky region

The Polish company Green Factory is interested in renting 500 hectares for growing vegetables in the Zakarpatsky region. The company plans to create its own raw material base in Ukraine. This is said in the statement of the Zakarpatsky regional administration. “The Representatives of the Polish company Green Factory Holding,  Rytel Arthur and Martin Kusmerovsky […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com