JPMorgan to close mobility payments platform acquired from Volkswagen- report

JPMorgan Chase & Co has decided to phase out the payments platform it purchased from Volkswagen four years ago, following executives' determination that it would not achieve profitability, reported Bloomberg, citing sources. The service, referred to as the Mobility Payments Solution within JPMorgan and known as VW Pay, delivers payment technology in the mobility space. While the bank will exit operation of this particular platform, it intends to keep offering mobility-related services to its clients, acc ...