Sephora, a unit of LVMH-Moet Hennessy Louis Vuitton SA (OTC: LVMUY), is the first J.P. Morgan Payments customer and freestanding store to promote Tap to Pay on iPhone (NASDAQ: AAPL).
JPMorgan Chase & Co. (NYSE: JPM) recently launched the point of sale application for iPhones. The solution permits merchants to accept contactless payments using their iPhones without needing a dedicated payments card reader.
With Tap to Pay on iPhone, Sephora's Beauty Advisors can accept contactless credit and debit cards, Apple Pay, and other digital wallets anywhere in the store simply by using their iPhone.
J.P. Morgan Payments will expand Tap to Pay on iPhone to U.S. merchants over the next year, including small-and-medium-sized business merchants.
"As consumer payment needs continue to rapidly evolve, this is a significant demonstration of our ability to innovate at scale to support our merchant clients through this ongoing transformation," said Takis Georgakopoulos, Global Head of Payments, J.P. Morgan.
Price Action: JPM shares are trading lower by 0.36% to $148.94 on the last checked Tuesday.