Mon .
23 Dec . 2024
JPMorgan announces launch of programmable payments
Programmable payments automate transactions using algorithms, eliminating the need for human checks.
JPMorgan Unveils Programmable Payments Through JPM Coin
JPMorgan has enabled programmable payments, or automated payments, through its legal blockchain-based payments system called JPM Coin. Navin Malla, Head of Coin Systems at Onyx said: Onyx, the blockchain business unit of JPMorgan, has launched a new feature for public use. Onyx said that this is an important achievement in the evolution of JPM Coin, and the ability to schedule payments has always been an unattainable dream.
Programmable payments automate transactions using algorithms, eliminating the need for human checks. This speeds up transactions and eliminates the problem of setting aside extra funds when the treasury is down, such as weekends and holidays. (JPM Coin is active 24/7.)
This feature becomes more attractive when interest rates are high and treasurers may earn more on deposits. This feature is also useful for handling late payments or near margin calls.
jerard bartez
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