JPMorgan Chase to offer speedy card payments service for businesses

JPMorgan Chase is launching a new service that will allow businesses to process card payments swiftly and only be charged a flat pay-as-you-go rate. Dubbed QuickAccept, business owners can make use of the system via a mobile app or using a contactless card reader with payments being processed and put into bank accounts the same day.

QuickAccept will likely appeal to many businesses looking to cut costs due to the coronavirus pandemic as it is looks to be convenient and cheap to use. Rivals, such as Square and PayPal, often process payments more slowly and charge a fee if businesses need the funds from transactions more rapidly.

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