What We’re Reading: Amazon reportedly looks to offer checking accounts for customers via JP Morgan, other banks

Press Release
Mar 5, 2018
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Now Amazon wants to handle your checking account. The e-tail giant is in talks with JPMorgan and other big banks to create "a checking-account like product" aimed at younger customers and those without bank accounts, The Wall Street Journal reported. The newspaper, citing anonymous sources, said such a product could reduce the fees that Amazon pays to banks and payments processors now, while yielding yet more data on customer incomes and spending habits.

Read the article from CNBC at: https://www.cnbc.com/2018/03/05/amazon-in-talks-with-jp-morgan-other-banks-about-branded-checking-account-wsj.html

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