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JPMorgan launches same-day payment processing device QuickAccept

Thursday 22 October 2020 11:39 CET | News

JPMorgan has launched the card reading device QuickAccept, in a bid to speed up payment processing.

QuickAccept was designed by WePay, a payment startup which was acquired by JPMorgan, and offers same-day payment processing. The device processes card payments through a swipe, tap, or dip.

According to CNBC.com, the bank charges 2.6% plus 10 cents per tap, dip, or swipe transaction and 3.5% plus 10 cents per transaction that is keyed into the mobile app. The card reader itself costs USD 49.95.

JPMorgan has already piloted the service in Utah. 95% of users were new to the bank’s small business brand, and more than two-thirds were owners of businesses formed in 2020.


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Keywords: JPMorgan, US, QuickAccept, payments, card payments, payment processing, transactions
Categories: Banking & Fintech | Payments General
Countries: United States
This article is part of category

Banking & Fintech