Fintech Stocks Slip As JPMorgan Plans Data Access Fees, But Affirm Defies The Trend - PayPal Holdings (NASDAQ:PYPL)

JPMorgan plans to charge fintechs for customer data, Bloomberg News reports

(Reuters) -JPMorgan Chase is planning to impose fees on fintech companies for access to its customer bank account data, Bloomberg News reported on Friday, citing people familiar with the matter. The largest U.S. lender has sent pricing sheets to data aggregators – intermediaries that link banks with fintech platforms – outlining new charges that may vary by use case, with payment-focused firms facing higher costs, according to the report. “We’ve…

Fintech Stocks Slip As JPMorgan Plans Data Access Fees, But Affirm Defies The Trend - PayPal Holdings (NASDAQ:PYPL)

Several payments and fintech stocks such as Affirm Holdings Inc. (NASDAQ: AFRM), PayPal Holdings Inc. (NASDAQ: PYPL) and Mastercard Inc. (NYSE: MA) are under pressure this week after JPMorgan Chase & Co. announced it will begin charging significant fees for access to customer bank account data.

JPMorgan Tells Fintechs They Have to Pay Up for Customer Data

JPMorgan Chase & Co. has told financial-technology companies that it will start charging fees amounting to hundreds of millions of dollars for access to their customers’ bank account information – a move that threatens to upend the industry’s business models.

Bloomberg News reports that JPMorgan will charge fintechs to access ...

JPMorgan Tells Fintechs They Have To Pay Up For Customer Data

An anonymous reader quotes a report from Bloomberg: JPMorgan Chase has told financial-technology companies that it will start charging fees amounting to hundreds of millions of dollars for access to their customers' bank account information -- a move that threatens to upend the industry's business models. The largest US bank has sent pricing sheets to data aggregators -- which connect banks and fintechs -- outlining the new charges, according to…

JPMorgan Tells Fintechs to Pay Up for Customer Data Access (1)

JPMorgan Chase & Co.has told financial-technology companies that it will start charging fees amounting to hundreds of millions of dollars for access …