Emily Glazer

speaker
219 appearances 3 recordings 1 series first heard Aug 2017 last heard Jan 2021

Emily Glazer’s voice in public audio — every appearance, attributed to the second.

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What the bank is saying is it'll help them either way.
They're learning about the customer.
They are trying to have these relationships with merchants.
And even if it isn't sticking right now, it's not going to be all money lost because they'll learn through their process.
The question that we're wondering is they've invested a whole lot of money and the merchants are not really signing on and the consumers aren't signing on.
So what does it really mean for the bank?
So JP Morgan wanted to try to get into this mobile payment space in a way that was different than how others have tried to get into it.
So like I mentioned, they have competition from technology firms like Apple, Samsung, Google.
They have competition even from retailers.
Walmart, for instance, has its own
app.
It's been rolling out called Walmart Pay that's gaining a ton of traction.
And it even has competition from other financial services firms, most notably PayPal, which is a huge player here, but even firms like Visa or MasterCard.
So there's so many different players in this space.
It's a very fractured market.
And Chase thought that it could try to anchor its product, Chase Pay, with the merchants.
And those are oftentimes retailers like it could be Walmart,
Starbucks is another one that they're working with.
The issue here is that even though it offered what it thought was very good terms for the merchants, you know, that would make them want to sign on, it just has not been getting as many merchants as it thought it would.
And it has not been reaching goals that it needed to.
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