Sample cover letter for Internship position at jp morgan

It was recently announced that Chase customers can now use Samsung Pay to make safe and simple mobile payments. Seeing as Chase is the U.S consumer and commercial and banking business of JP Morgan Chase & Co, this would have a direct effect upon them. Although Apple Pay was already offered to Chase customers, the introduction of Samsung Pay is very beneficial for both Chase and its customers as Samsung pay works in a lot more places; it is able to work with NFC-free magnetic stripe card readers meaning you can use it with almost any old terminal – this is not the case with Apple Pay. The use of these mobile payment systems results in users tending to choose a default card as opposed to flipping through a virtual wallet to select a card. Assuming this default card will remain unchanged, it is in banks’ best interests to become this default card therefore Chase has involved itself in this healthy competition by introducing Samsung Pay. Furthermore, these mobile payment systems will aim to drive transaction volume in credit from everyday purposes and displace debit and cash, benefitting Chase through interest and merchant fees.