JPMorgan Chase & Co. has positioned its merchant processing unit to provide far more services to merchant clients through its 10-year partnership with Visa Inc., a deal which potentially shifts more power to the issuer.

By the end of 2013, Chase will launch the Visa-powered Chase Merchant Services payments platform. The Chase Merchant Services deal "shows that Chase had an upper hand this time far more than it has in the past," says Eric Grover, payments industry consultant at Minden, Nev.-based Intrepid Ventures.

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