Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Payments General

PayPal partners with JPMorgan for instant bank transfer feature

Friday 15 March 2019 | 01:33 PM CET

Payment solution provider PayPal has partnered with JPMorgan Chase to launch an instant transfer option.

The new initiative aims to give US customers faster access to their money, in a market where payments and bank transfers are notoriously slow and legacy banking systems still very much in use.

Through PayPal’s service, transfers will be achievable in minutes – however, this will involve a transaction fee, capped at USD10. The normal transfer takes one business day to process – this will still be available at no charge.

Reportedly, the instant transfer feature will be made available through JPMorgan Chase’s access to a platform called The Clearing House.

More: Link
 advertisement
 advertisement
 advertisement
 advertisement