Mark your calendars. At 11:06PM on December 12th, JPMorgan Chase exceeded $1 trillion in merchant processing volume, clearly highlighting the value of the ChasePay and ChaseNet strategies:
“NEW YORK–(BUSINESS WIRE)–At 11:06 p.m. eastern time last night, JPMorgan Chase crossed the $1 trillion mark in year-to-date merchant processing volume, a first in the firm’s history.
“Our clients benefit from the fact that we’re intensely focused on payment processing, yet part of a global financial institution that can support their broader business needs”
Merchant processing volume at the firm has grown annually from $750 billion in 2013 to nearly $950 billion in 2015. Black Friday 2016 had an increase of 12 percent in total transaction dollar volume, and Cyber Monday was 30 percent higher than last year.”
While the ChasePay wallet launched just last month, Chase Pay and ChaseNet has won over several large merchants including Starbucks, which undoubtedly helped Chase achieve this volume.
Overview by Tim Sloane, VP, Payments Innovation Advisory Service at Mercator Advisory Group
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