The Traderszone Network

Published in TZ Latest News 7 September, 2015 by The TZ Newswire Staff

JPMorgan uses its might to cut costs in credit card market

JPMorgan Chase & Co. (JPM.N) is cutting prices for a group of its credit card customers and getting Visa Inc to shoulder at least some of the burden of the lost revenue, underscoring how the largest U.S. bank’s size can help it hang onto business in fiercely competitive markets. At stake are the billions of dollars that banks receive annually from consumer use of a credit card to pay a retailer.

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