“Pye, a leading kiosk manufacturer, has teamed with Chase, a world financial leader, to securely process payments through its self-service point-of-sale solutions across Canada. As the Alabama-based firm expands its thriving U.S. footprint and ramps up sales and distribution of its innovative equipment outside of the United States, those units will connect with Chase’s end-to-end secure payment system. Chase’s solution will facilitate a variety of electronic payment methods, including contactless payments such as Android and Apple Pay. The offering comes as intercepted payments and hacks have dogged the transactional industry in recent years and as the COVID-19 pandemic pushes consumers to look for more contactless payment options. Backed by the power of Chase, concerned consumers can be confident when using Pye solutions, said Jegil Dugger, Pye founder and CEO.”

“Demand for cryptocurrencies as a payment method has drastically declined over the past six months, according to Takis Georgakopoulos, global head of payments at JPMorgan Chase & Co. “We saw a lot of demand for our clients, let’s say up until six months ago,” Georgakopoulos said in a Bloomberg Television interview on Tuesday. “We see very little right now” but the bank will still support clients who want to use that method, he said. Cryptocurrencies are plowing through a downturn that has erased some $2 trillion in market value in less than a year and slashed volumes on many exchanges. High-profile digital-asset companies have also been pushed into bankruptcy. (subscription required)”

“There are very few chief executive officers that the market pays attention to more than Jamie Dimon, the esteemed leader of JPMorgan Chase, the largest U.S. bank by assets. So, as Dimon has intensified his calls on the growing competition from rival fintech companies, and at times what he calls their “unfair” advantages, investors may have been worried about the future of more traditional banks. But Dimon over the years has also vowed to fight hard, especially in the increasingly competitive world of payments. Now, the longtime CEO seems to be making good on that promise with JPMorgan’s recent fintech acquisitions. Let’s take a look at these recent acquisitions and how they could help the bank ward off competition from the likes of large fintech payment processors like Stripe and Plaid.”

“JPMorgan Chase has agreed to acquire a payments startup called Renovite to fend off threats from fintech firms including Stripe and Block , CNBC has learned. The bank, a major player in the global payments arena, said that acquiring Fremont, California based Renovite will speed up its ability to roll out new offerings to merchants.   While JPMorgan is the world’s biggest provider of merchant services by transaction volume, fast-growing upstarts including Stripe and Block have climbed the rankings in recent years, thanks to booming e-commerce sales and the proliferation of new payment methods. Merchant acquirers are crucial, behind-the-scenes providers that enable sellers to accept in-person and online payments, keeping a small cut of each transaction.”

“Instacart, the leading grocery technology company in North America, and Chase, the largest co-brand card issuer in the U.S., today launched the new Instacart Mastercard credit card, with Mastercard as the exclusive payments network. With this first-ever credit card from Instacart, cardmembers can earn unlimited cash back with a range of redemption options, along with additional rewards and benefits. The new Instacart Mastercard from Chase, a World Elite Mastercard, offers cardmembers: Accelerated Earning Opportunities on Groceries and Everyday Purchases 5% cash back on Instacart purchases made at more than 800 national, regional, and local retail brands from more than 70,000 stores across more than 5,500 cities5% cash back on travel purchased through the Chase Travel Center2% cash back on restaurants, gas stations, and select streaming services1% cash back on all other purchases.”

“To help merchants improve their marketing, pricing and staffing strategies in a tightening economy, Chase this week began sharing deep insights about shoppers’ habits gleaned from two streams: its U.S. massive consumer card-spending database and huge national card-processing operations. The new resource, called Chase Customer Insights, rolled out this week after months of testing to Chase small-business customers and users of QuickAccept, the newest version of its small-business card acceptance service…(subscription required).”

“Today the Monetary Authority of Singapore (MAS) announced Project Guardian, a digital assets pilot using tokenization on public blockchains. The project involves regulated financial institutions acting as ‘trust anchors’ with an initial pilot involving JP Morgan, DBS Bank and Marketnode, the SGX joint venture for bonds. Tokenized bonds and deposits will be used in a permissioned liquidity pool for DeFi transactions involving borrowing and lending on a public blockchain. This solution is not targeted at retail investors, so it will only be available in the wholesale market.”

“The JPMorgan product would give tech companies the ability to provide millions of customers virtual bank accounts and to offer perks such as car loans or discounts on home rentals to those who keep money stashed there. The more customers use their virtual accounts to pay for services, the less the companies would have to spend on payment-processing fees to third parties such as JPMorgan.”

“JPMorgan Chase is ending a three-year-old partnership with OnDeck Capital that enabled the bank to start offering online loans to small businesses. New York-based OnDeck announced Monday that JPMorgan plans to stop originating loans through the partnership later this week. JPMorgan said that it will continue to offer online small-business loans, but will no longer do so in partnership with OnDeck. “It’s been a great collaboration with OnDeck,” the bank said in a written statement. “They helped us create and launch an online loan application process that gave business owners faster decisions and easier access to credit, something we will continue to do on our own platform.””

“Payments is an extremely buzzy corner of the financial sector right now, and JPMorgan Chase wants to dominate it, Credit Suisse analyst Susan Roth Katzketold clients Friday following a meeting with the bank’s management.”

“As tours and activities become more in demand around the world, some credit cards are looking to be more than just the payment method you use to book a tour — card companies want to offer or lead the tours themselves.”

“With a new lock/unlock feature launching today, Chase is giving customers peace of mind with the power to temporarily turn off their Chase credit cards immediately, stopping them from being used when left behind or misplaced. The lock/unlock feature will allow customers to quickly lock or unlock their credit card right from their phones through the Chase Mobile app or by computer via chase.com to instantly block new purchases, cash advances and balance transfers.”

“In the past two years alone, JPMorgan has poured more than
$20 billion into new products for digital banking, investment advice, trading, and cybersecurity. A frequent visitor to Silicon Valley, Dimon has partnered his bank with fintechs in peer-to-peer consumer payments and small business loans, online mortgages, and auto financing. Instead of fearing fintechs as disrupters, JPMorgan treats them as subcontractors — and has invested in more than 100 of them.”

“Citi today announced it will launch comprehensive, new mobile capabilities on the Citi Mobile App® for iPhone to serve the full spectrum of client needs nationwide. The range of new features, rolling out in the weeks ahead, will include seamless in-app account opening, a 360-degree view across all financial accounts and spending insights to enhance clients’ financial wellness. In addition, the app will offer a first-of-its kind among banks — non-Citi clients can create a profile and connect their accounts across financial services providers to benefit from the app’s account aggregation, spending insights and bill management features.”

“Having merchants invite customers to use Chase Pay lets the bank control the payment experience, which is designed to let customers earn discounts through fuel rewards programs from Shell within Chase Pay, and build brand visibility at a time when non-bank mobile wallets like Apple Pay and Android pay become increasingly integrated with point-of-sale terminals.”

“TouchBistro(Opens Overlay), the provider of iPad POS software that has helped more than 12,000 restaurants improve their business operations, is introducing TouchBistro Payments powered by WePay(Opens Overlay), a Chase company. The companies are teaming up to deliver two time-saving innovations busy restaurant owners need: instant payment processing; and a new, integrated mobile payment device that allows customers to easily pay at the table as they choose – tap, chip, and traditional magnetic strip.”