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News by FinTech Collective Archive

JPMorgan launches a challenger to Affirm, the US consumer finance start-up

Gareth Jones

March 8, 2019

https://www.passle.net/Content/Images/passle_logo-186px.png Passle https://passle.net

Gareth Jones

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The latest battleground between established banks and upstart financial technology companies is over who will finance consumers’ purchases at the moment they are made, online or in physical stores.

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That news came a day after JPMorgan Chase announced that it was entering the instalment plan business, offering fixed monthly payment plans for purchases more than $500 by its cardholders — a tacit acknowledgment that defending its turf in consumer finance may require moving beyond traditional credit-card lending.

https://www.ft.com/content/7d120c50-3ba7-11e9-b72b-2c7f526ca5d0?shareType=nongift

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