NEW YORK—JPMorgan Chase is ditching plastic for some of its credit cards.
The company said its commercial cards division is partnering with Bay Area start-up Marqeta to launch digital-only credit cards.
The new function will allow JPMorgan corporate cards to work in mobile wallets such as Apple Pay or Samsung Pay immediately — without having to wait for a physical version in the mail, CNBC reported.
“This type of immediate, ‘virtual’ card has historically been used for gig-economy, or contract workers who may need to pay expenses but wouldn’t qualify for a corporate card,” CNBC stated.