JPMorgan Chase becomes the first US bank approved as a principal member of France's Cartes Bancaires.

JPMorgan Chase becomes the first US bank to be approved as a principal member of France's Cartes Bancaires, a domestic rival to Visa and Mastercard. This move allows JPMorgan to offer French merchants an alternative payment option with potentially lower transaction costs. JPMorgan aims to expand its presence in the European payments market, expected to reach $500 billion in total revenues by 2027.