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JPMorgan Chase & Co. announced a reloadable, prepaid card called "Chase Liquid" to compete in the growing sphere of prepaid cards during a May 8 investor presentation.
The card is intended for consumers who seek low-cost basic banking services or have concerns about security or personal finance, executives said during the UBS Global Financial Services conference. Executives welcomed the potential cannibalization of the checking account product for current Chase customers who may be better suited to the prepaid card.
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