'Small businesses have a long list of needs, and accepting card payments via the reader we launched is a great first step,' he said. But fulfilling those requirements is only a jumping-off point to building an SMB ecosystem.

Yet they all shared a common need for financial solutions that were easy to use, said Neukirchen, with credit card acceptance another key feature many SMBs sought.

There's a very important ecosystem there.'Įarly adopters chosen to test QuickAccept ranged in industry from a wine store to a provider of professional legal services. But there is a lot more around payments that you want to do with small businesses. 'With many customers, payment acceptance is one of the critical components that small businesses are looking for, so we want to meet this,' he said. bank positions it to provide a well-rounded finserv offering to SMBs that all function together as a one-stop-shop. Speaking with Karen Webster, Neukirchen described how JPMorgan Chase's status as the largest U.S. Morgan, said goes beyond the payment itself. It's a payment acceptance solution built on the technology secured through the WePay takeover, but it's one that Max Neukirchen, CEO of Merchant Services at J.P. Fast forward three years and the bank has made that vision a reality for SMBs with the recent rollout of QuickAccept. The 2017 deal set the stage for the financial institution (FI) to take steps toward its goal of creating an SMB ecosystem, one in which point-of-sale (POS) offerings combine holistically with a range of other financial services and capabilities already offered by JPMorgan Chase. But there was a grander vision at play than for JPMorgan Chase to simply broaden its payment product offering for small- to medium-sized businesses (SMBs).

When JPMorgan Chase acquired payment gateway WePay several years ago, the bank gained access to WePay’s integrated payments gateway capabilities.

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