US payments firms fall after Bloomberg News report on JPMorgan Chase's fintech fee plan

Affirm Holdings

11/07/2025 21:02

** Shares of U.S. payments companies drop after Bloomberg News reported that JPMorgan Chase JPM.N is planning to impose fees on fintech companies for access to its customer bank account data

** Financial technology firms PayPal PYPL.O, Block XYZ.N and Affirm AFRM.O slip 5.3%, 4.9% and 4.8%, respectively

** Credit card lender American Express AXP.N falls ~1.5%

** Payments processors Visa V.N and Mastercard MA.N drop 2.4% and 2.4%, respectively

** "We've had productive conversations and are working with the entire ecosystem to ensure we're all making the necessary investments in the infrastructure that keeps our customers safe" - JPMorgan Chase spokesperson

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))