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Tech companies benefit by avoiding payment processing fees to third-partyvendors whenever customers use their virtual accounts for payments, the report said, while JPMorgan benefits by being the sole payment processing and cash movement firm for tech companies that offer the eWallet to their customers. “A
Tech companies benefit by avoiding payment processing fees to third-partyvendors whenever customers use their virtual accounts for payments, the report said, while JPMorgan benefits by being the sole payment processing and cash movement firm for tech companies that offer the eWallet to their customers. “A
For payment firms and financial institutions, this is far more than a technical upgrade. Delayed preparation may result in incompatibility with globalpayment systems, transaction failures, data truncation, and increased regulatory scrutiny. to 1.15%, and credit card fees jumping from 0.3%
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