On Tuesday, JPMorgan Chase announced the launch of its mobile payment service QuickAccept, and on Wednesday, Visa launched its application called Tap to Phone.<\/p>\n
The purpose of both programs is to offer sellers an easy way to accept contactless payments from customers via a smartphone or tablet.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
The launch of Tap to Phone follows a pilot implementation with Samsung last year.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
Visa shares, which rose up to 19.26% over the past six months, fell nearly 2% over the past week.<\/p>\n
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.<\/p>\n","protected":false},"featured_media":124347,"menu_order":0,"template":"","newscat":[9],"newstag":[26589,29889,29842,26810,24767,25564,29888,24678,29839,29840,24362,29838,29843,24947,24953,29841],"issues":[],"class_list":["post-124346","news","type-news","status-publish","has-post-thumbnail","hentry","newscat-novosti","newstag-covid-19-pandemic","newstag-emv-standard","newstag-europay","newstag-jpmorgan","newstag-jpmorgan-chase","newstag-mastercard","newstag-mobile-payment-service-quickaccept","newstag-paypal","newstag-square","newstag-tap-to-phone","newstag-visa","newstag-mobylnj-platezhnj-servys-quickaccept","newstag-mobilnyj-platizhnyj-servis-quickaccept","newstag-pandemyya-covid-19","newstag-pandemiya-covid-19","newstag-standart-emv"],"_links":{"self":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news\/124346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media\/124347"}],"wp:attachment":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media?parent=124346"}],"wp:term":[{"taxonomy":"newscat","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newscat?post=124346"},{"taxonomy":"newstag","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newstag?post=124346"},{"taxonomy":"issues","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/issues?post=124346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}