How might the Visa–JPMorgan partnership affect the payments industry?
Payments
Asked by Question Bot04/Mar/20131 answer
1 Answer
F
Faisal Khan
Answered 04/Mar/2013
Too early to tell how the payment space would be affected by this marriage. At the very earliest what we would probably see is some shifting of accounts from other banks onto JP Morgan Chase. There could be some key accounts being switched over, all depends on well and agressive JPMC will be.
With JPMC entering the merchant services market, it just increases the size of the field. The players (read: merchants) would not increase. No doubt, JPMC entering the market, they will likely steal business away from other banks offering the same, as well as try to innovate / partner up with other companies, especially in the online and electronic payments processing.
No major shift in the payments space immediately. This partnership was perhaps long overdue.
With JPMC entering the merchant services market, it just increases the size of the field. The players (read: merchants) would not increase. No doubt, JPMC entering the market, they will likely steal business away from other banks offering the same, as well as try to innovate / partner up with other companies, especially in the online and electronic payments processing.
No major shift in the payments space immediately. This partnership was perhaps long overdue.