We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
JPMorgan (JPM) Unveils Tap to Pay on iPhones for Merchants
Read MoreHide Full Article
J.P. Morgan Payments, a division of JPMorgan (JPM - Free Report) , has ushered in a groundbreaking era for merchants in the United States by introducing Tap to Pay on iPhone. This innovative solution eliminates the need for a dedicated payment card reader or additional hardware, enabling merchants to seamlessly accept contactless payments through their iPhones.
With their iPhones, merchants can now conveniently accept payments anywhere with Wi-Fi or cellular service, transforming the payment experience into a quick and frictionless process. The solution also empowers merchants to conduct transactions in-store or on the move, adding an unprecedented level of flexibility to payment acceptance.
Takis Georgakopoulos, Global Head of Payments at JPM, emphasized the customer-centric approach behind this innovation. As consumer payment preferences evolve rapidly, this solution caters to their evolving needs, positioning the company as an agile and innovative partner for merchants during this transformative phase.
Max Neukirchen, Global Head of Payments & Commerce Solutions at J.P. Morgan Payments, stated the convenience and simplicity of this solution. With Tap to Pay on iPhone, merchants and customers are liberated from the complexities associated with traditional payment methods, making transactions smoother and more efficient.
J.P. Morgan Payments now intends to expand the availability of Tap to Pay on iPhone to all U.S. merchants in the coming year, extending its benefits to small and medium-sized businesses. As technology continues to reshape the commerce landscape, this innovation demonstrates JPMorgan's dedication to creating a frictionless payment ecosystem that aligns with evolving consumer preferences.
JPM has been aligning its operations with the needs of its customers. The company is on track to open more than 400 branches across 25 new markets. In addition to enhancing market share, the strategy will help the bank grab cross-selling opportunities by increasing its presence in the card and auto loan sectors.
Several other banks are also taking similar steps to come out with new products and services that align with client requirements.
Earlier this month, Comerica Incorporated (CMA - Free Report) launched Comerica Maximize, an interest-bearing checking account and competitive cash management solutions for qualifying small business and business banking customers. The new package enables them to earn interest income while growing and protecting their businesses with essential treasury services.
Comerica Maximize has been uniquely designed to optimize customers’ funds and save time.
There are several benefits to enrolling in this packaged product. It enables customers to deposit more funds. With Comerica Maximize checking account, Earnings Credit Allowance will be received by customers. This will offset monthly fees and after paying fees, customers can earn a competitive tier-based interest rate on any remaining balance.
Further, in July, Citigroup (C - Free Report) launched a platform — CitiDirect Commercial Banking — which offers a single-entry point digital platform to cater to the needs of Citi Commercial Bank clients. This initiative is part of C’s significant strategic investment plan to meet the growing global needs of these clients.
Particularly, CitiDirect Commercial Banking platform brings together the bank’s global products and services into a single digital platform. This provides clients with a comprehensive view of their Citi banking relationship across Cash, Loans, Trade, FX, Servicing and Onboarding.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
JPMorgan (JPM) Unveils Tap to Pay on iPhones for Merchants
J.P. Morgan Payments, a division of JPMorgan (JPM - Free Report) , has ushered in a groundbreaking era for merchants in the United States by introducing Tap to Pay on iPhone. This innovative solution eliminates the need for a dedicated payment card reader or additional hardware, enabling merchants to seamlessly accept contactless payments through their iPhones.
With their iPhones, merchants can now conveniently accept payments anywhere with Wi-Fi or cellular service, transforming the payment experience into a quick and frictionless process. The solution also empowers merchants to conduct transactions in-store or on the move, adding an unprecedented level of flexibility to payment acceptance.
Takis Georgakopoulos, Global Head of Payments at JPM, emphasized the customer-centric approach behind this innovation. As consumer payment preferences evolve rapidly, this solution caters to their evolving needs, positioning the company as an agile and innovative partner for merchants during this transformative phase.
Max Neukirchen, Global Head of Payments & Commerce Solutions at J.P. Morgan Payments, stated the convenience and simplicity of this solution. With Tap to Pay on iPhone, merchants and customers are liberated from the complexities associated with traditional payment methods, making transactions smoother and more efficient.
J.P. Morgan Payments now intends to expand the availability of Tap to Pay on iPhone to all U.S. merchants in the coming year, extending its benefits to small and medium-sized businesses. As technology continues to reshape the commerce landscape, this innovation demonstrates JPMorgan's dedication to creating a frictionless payment ecosystem that aligns with evolving consumer preferences.
JPM has been aligning its operations with the needs of its customers. The company is on track to open more than 400 branches across 25 new markets. In addition to enhancing market share, the strategy will help the bank grab cross-selling opportunities by increasing its presence in the card and auto loan sectors.
Shares of this Zacks Rank #1 (Strong Buy) company have gained 9.1% so far this year against the industry’s fall of 4.8%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Image Source: Zacks Investment Research
Several other banks are also taking similar steps to come out with new products and services that align with client requirements.
Earlier this month, Comerica Incorporated (CMA - Free Report) launched Comerica Maximize, an interest-bearing checking account and competitive cash management solutions for qualifying small business and business banking customers. The new package enables them to earn interest income while growing and protecting their businesses with essential treasury services.
Comerica Maximize has been uniquely designed to optimize customers’ funds and save time.
There are several benefits to enrolling in this packaged product. It enables customers to deposit more funds. With Comerica Maximize checking account, Earnings Credit Allowance will be received by customers. This will offset monthly fees and after paying fees, customers can earn a competitive tier-based interest rate on any remaining balance.
Further, in July, Citigroup (C - Free Report) launched a platform — CitiDirect Commercial Banking — which offers a single-entry point digital platform to cater to the needs of Citi Commercial Bank clients. This initiative is part of C’s significant strategic investment plan to meet the growing global needs of these clients.
Particularly, CitiDirect Commercial Banking platform brings together the bank’s global products and services into a single digital platform. This provides clients with a comprehensive view of their Citi banking relationship across Cash, Loans, Trade, FX, Servicing and Onboarding.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.