Following its entry into Eftpos and the New Payments Platform, JP Morgan Australia is poised to enter the acquiring business.
JP Morgan Payments will thus offer a full cash management and working capital solutions service to clients, sharpening competition with major Australian banks.
Its initial merchant base will comprise US-headquartered retailers and ecommerce platforms. Apple will be JP Morgan Payments most prominent client.
Payments options will be all mod cons.
Quest Payment Systems CEO Jan Masons said by working with JP Morgan “we can offer unparalleled service to merchants across Australia with our Android based QT850 terminals.
“These terminals are designed not just for current traditional payment methods but are equipped to handle emerging payment types such as QR codes and Account-to-Account payments. This alliance reflects our commitment to innovation and enhancing the way retailers engage with their customers."
Bianca Bates, Head of Payments, Australia and New Zealand, JP Morgan said “this collaboration with Quest will empower Australian businesses with the latest checkout technology, for a secure and seamless customer experience.
“We are focused on enabling merchants to prosper by providing them with the tools they need to deliver outstanding payment services."