JPMorgan Joins French Payment Fray in Tie-Up With Visa Rival
- Bank to offer Cartes Bancaires to French clients by year-end
- JPMorgan is weighing joining other domestic payment networks
JP Morgan was the first US bank to be approved as a principal member of Cartes Bancaires.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
JPMorgan Chase & Co. will join France’s Cartes Bancaires CB, giving the payment network more heft to compete with US rivals Visa Inc. and Mastercard Inc.
The Wall Street giant was the first US bank to be approved as a principal member of Cartes Bancaires and is aiming to offer the option to French merchants by the end of the year, according to a statement Monday.