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How JPMorgan’s plan to kill credit cards split the bank (pay-by-bank versus traditional payment methods)


hegemony
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I am uncertain this endeavor will take off. Unless they streamline the UI and other banks copy this technology. Sure, it would potentially cut down on swipe fees for merchants. But I don’t seeing it destroying the credit card industry. If anything, it’s a tool for Chase to use to negotiate with Visa and Mastercard for a better deal. I could also see this being a reincarnation of debit cards, where it would be a card that runs on a network Chase builds and owns, similar to BankAmericard when it first started. They already tried Chase Pay a few years ago and that didn’t really take hold, so this would have to be different IMO.

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