JPMorgan is leveraging the buy, build, partner, invest framework to grow its newly created Wholesale Payments unit.
In January, JPMorgan consolidated its SMB and enterprise payment operations (Chase Merchant Services) into a new combined entity, called the Wholesale Payments unit. This unit now enables large and small merchants to accept payments across all channels: in-store, online, or on-the-go.
Today, JPMorgan is the third-biggest US processor of card payments for merchants, behind only First Data Corp. In Q1’19, Chase processed $356.5B in merchant transactions, a 13% year-over-year increase.
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