 NEW YORK AP - After watching the explosive growth at electronic payment start-ups like Jack Dorseys Square, JPMorgan Chase has launched its own version to lure small business owners increasingly relying on technology during the pandemic. The banks new QuickAccept checking account will allow businesses to process card payments almost instantly and have the funds available the same day. QuickAccept is only available to businesses with Chase accounts and same-day funding is free if the money goes into a Chase Business account, the bank said Wednesday. Square charges 1.5 plus processing fees for same day funding, according to its website. Chase for Business, a division of JPMorgan Chase, said the new tool can be activated immediately for U.S. sales through the Chase Mobile app or contactless mobile card reader, which costs 49.95. There is a monthly service fee of 15 for the card reader, which can be waived by reaching minimum account balances or meeting other requirements. Chases pricing is almost identical to Squares and others - 2.6 plus 10 cents for tap, dip, swipe transactions and 3.5 plus 10 cents for manual transactions through the mobile app. Mobile payment platforms from Square and others had already become ubiquitous at small businesses, from restaurants to farmers markets. The pandemic has accelerated that trend, with so many small businesses making transactions through a window or other barriers. Quarterly sales growth at Square Inc. jumped from an already blockbuster 40 or more to more than 64 in its most recent quarter which ended in June. Square was founded in 2009 by Dorsey, who is also the founder and CEO of Twitter. 