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JPMorgan to buy majority stake in Volkswagen’s payments business

  • September 11, 2021
  • Payments

JP Morgan announced it would purchase a majority stake in Volkswagen’s payments business.  The payments arm was established in 2017 as a platform allowing customers to buy and lease cars, pay for parking tickets, and feed charging meters.  Long-term, the two companies plan to further develop Volkwagen’s platform to cover industries outside the automotive sector.  The terms of the deal were not disclosed.  

Source: JPMorgan to buy majority stake in Volkswagen’s payments business

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