🚨 JPMorgan just exposed the real threat to traditional banking. While Europe treats customer data as free under PSD2, JPM is charging aggregators like Plaid $1.50 per authorization + $0.05-0.20 per data request. This isn’t about infrastructure costs—it’s about survival.

🚨 JPMorgan just exposed the real threat to traditional banking. While Europe treats customer data as free under PSD2, JPM is charging aggregators like Plaid $1.50 per authorization + $0.05-0.20 per data request. This isn’t about infrastructure costs—it’s about survival.

— Abhay 🇸🇬🇮🇳 (@Abhay08)
Aug 2, 2025

🚨 JPMorgan just exposed the real threat to traditional banking. While Europe treats customer data as free under PSD2, JPM is charging aggregators like Plaid $1.50 per authorization + $0.05-0.20 per data request. This isn’t about infrastructure costs—it’s about survival.

https://t.co/7YQKP9bcpg @jas_shah Excellent breakdown of how there is going to be a reset in ‘value capture’ in payment space. Why JPM’s “data tax” is really about protecting $49B in interchange revenue from the stablecoin revolution brought by Genius Act

📊 THE NUMBERS DON’T LIE: JPM claims $50M in fraud losses from aggregators. Sounds scary until you realize they made $49B in H1 2025 revenue. That’s 0.05% of their income. Meanwhile, they’re charging fees that could generate $300M annually from Plaid alone.