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J.P. Morgan To Invest In Payments Platform Operated By Volkswagen - Quick Facts

J.P. Morgan announced a strategic deal with Volkswagen Financial Services, with plans to acquire a controlling interest of close to 75% in the payments platform operated by Volkswagen Payments S.A. Volkswagen Financial Services will remain a stakeholder. The platform will continue to facilitate payments across the Volkswagen network.

Operating in 32 markets around the world, Volkswagen Payments S.A. operates a leading payments platform designed for the auto industry. J.P. Morgan said this platform is a natural fit for its Wholesale Payments business and delivers an integrated payments experience.

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