JPMorgan to Shutter Chase Pay App

The video discusses the convenience of mobile payments and why JP Morgan is moving away from them in the US. It highlights the challenges faced by JP Morgan, such as consumer preference for credit card rewards and technology issues with merchant adoption. Despite these challenges, JP Morgan remains committed to digital payments, investing heavily in technology and trying to increase merchant acceptance.

What is one reason for the slow adoption of mobile payments in the US?

• Lack of smartphone users

• Preference for cash transactions

• Popularity of credit card rewards

• High transaction fees

What technological difference made it difficult for Chase Pay to gain traction?

• Use of QR codes

• Lack of NFC technology

• Incompatibility with Android devices

• High transaction fees

Why is JP Morgan focusing more on online payments?

• To compete with cryptocurrency

• To reduce transaction fees

• To avoid technology struggles with in-store payments

• To increase cash transactions

How much has JP Morgan invested in technology for digital payments?

• $15 billion

• $11 billion

• $5 billion

• $20 billion

What percentage of merchants have adopted Chase Pay after four years?

• 1%

• 5%

• 70%

• 10%