J.P. Morgan is rolling out same-day deposits to customers of its WePay platform who have bank accounts with the firm.
A restaurant, for instance, can receive credit-card payments for happy hour drinks later that day. Payments received by 5 p.m. Pacific Time on Sunday through Friday will be deposited to user accounts by 9:30 p.m., according to WePay. Payments made on Saturday will be posted by Sunday at 4 a.m.
It is, according to Clerico, a feature unique to Chase, which is the only major bank with a wholly owned payments business., fast-growing companies that have taken the payments world by storm. These nimble firms have benefited as more commerce goes online, alarming the old guard. Both companies say payments take one to two business days to complete and both charge fees for faster service. Stripe, for instanceThe payments landscape is in the throes of upheaval. There have beenAnd the new players aren't sitting still. Earlier this month, Stripe said it wasRelated Tags
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