JPMorgan Chase & Co JPM:NYSE

JPMorgan Chase (JPM) plans to test a new biometrics-based payment technology for US merchants, Bloomberg reported Thursday, citing a statement from the company.

The new technology allows customers to make payments using their palm or face, with the pilot program potentially including a Formula 1 race in Miami, the report said.

"The evolution of consumer technology has created new expectations for shoppers," Jean-Marc Thienpont, the head of omnichannel solutions for JPMorgan's payments business, reportedly said in the statement. "Merchants need to be ready to adapt to these new expectations."

JPMorgan Chase shares gained 1.3% in Thursday morning trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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