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JPMorgan Chase says it is building a rival to Apple Pay

China has seen nearly US$1 trillion in capital leave the nation since the second quarter of 2014, and according to analysts at JPMorgan Chase & Co, the sky's the limit for outflows going forward.

Las Vegas

JPMorgan Chase & Co said on Monday that it will soon launch its own competitor to Apple Pay that will allow consumers to pay retailers using their smartphones in stores, and it has already won the endorsement of a major group of merchants.

The largest US bank is the