fintech data access fees

Key Points:* JPMorgan announces charges for fintech data access.

• Experts say startups could face significant cost hurdles.
• Potential for increased consumer fees as costs shift down. Last month, JPMorgan Chase informed fintech companies of plans to charge them for accessing its customers’ bank account data, stirring significant reactions in the financial industry.

The new charges could challenge fintech startups, potentially increasing costs for consumers as data aggregators pass on these fees.

JPMorgan Fees Signal Change in Fintech Cost Dynamics

JPMorgan Chase plans to impose charges on data aggregators for accessing customer data, with fintech startups expressing concern over the impact on costs and innovation. Data aggregators such as Plaid and MX play a critical role in fintech connections.

Impact: Fintech startups may face financial hurdles, while companies like PayPal and Block are expected to manage changes better. Costs to fintech customers could rise as fees are potentially passed on.

Phil Goldfeder, CEO, American Fintech Council: “At a time when consumers are demanding more flexibility, transparency, and control over their financial lives, placing a tollbooth on data access will harm the very families a safe financial system is meant to serve.” – Payments Dive

Industry Responses: Phil Goldfeder of the American Fintech Council criticized the move, highlighting consumer impact. JPMorgan’s Emma Eatman defended the fees, citing security investments, while fintech firms anticipate decision ramifications.

Historical Financial Shifts and Current Market Data

Did you know? Recent changes echo early 2010s bank data access restrictions, which prompted increased costs and innovation challenges for fintech startups.

Ethereum (ETH) is currently valued at $3,733.98 with a market cap of $450.74 billion. Its recent 24-hour trading volume surged by 75.65%. Over the past 90 days, ETH recorded a 135.53% increase, according to CoinMarketCap.

Ethereum(ETH), daily chart, screenshot on CoinMarketCap at 02:13 UTC on July 21, 2025. Source: CoinMarketCap Insights: The Coincu research team anticipates rising operational costs may challenge fintech startups, while larger firms likely adapt. Historical shifts suggest potential industry consolidation and customer cost increases.

| | | --- | | DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |