# Who does JPMorgan Chase pay? Who are its key suppliers?
Canonical: https://valuechain.wiki/jpmorgan-chase · Facet: suppliers · Updated: 2026-09-23T08:29:50.014989+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: JPMorgan Chase's confirmed suppliers/cost counterparties include Newmont Corporation, Marriott International, Inc., United Airlines Holdings, Inc. plus 4 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 7 cost edges, backed by 6 dated sources, 5 of them primary filings (as of 2026-09-23).

### 뉴몬트 (high)  → /newmont.md
- metric: Amount $2.5B · FY2025 · Sales to JPMorgan Chase
- note: JPMorgan Chase is a major buyer of Newmont's metals disclosed in Newmont's 10-K, and accounted for a meaningful share of Newmont's consolidated sales in 2025.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-19) https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm: "JPMorgan Chase: $2,499 million, 11%."

### 임직원 보상·기술 투자 (high)
- metric: cost 54,487$M · FY2025 · compensation expense
- note: Compensation FY2025 $54.5B. 2026 technology & AI budget ~$19.8B (internal generative-AI LLM Suite).
- [confirms] SEC EDGAR (EN, filing, published 2026-02-13) https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm: "Compensation expense $54,487M (FY2025)."

### 예금 이자비용 (high)
- note: Interest paid on $2.56T of deposits (the paid side of NII), which rises with rates.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-13) https://www.sec.gov/Archives/edgar/data/19617/000162828026008131/jpm-20251231.htm: "Total deposits $2,559,320M."

### 메리어트 인터내셔널 (high)  → /marriott-international.md
- note: JPMorgan Chase has a multi-year U.S. Bonvoy co-branded card agreement with Marriott under which it pays fixed consideration at contract inception and monthly variable consideration tied primarily to card usage, but Marriott does not disclose the amount by issuer.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-10) https://www.sec.gov/Archives/edgar/data/1048286/000104828626000007/mar-20251231.htm: "multi-year agreements with JPMorgan Chase"

### 유나이티드항공 (high)  → /united-airlines-holdings.md
- note: JPMorgan Chase issues the MileagePlus co-branded card and buys miles from United, which describes the arrangement as its most significant contract for selling MileagePlus miles but does not disclose payments from Chase separately.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-12) https://www.sec.gov/Archives/edgar/data/100517/000010051726000023/ual-20251231.htm: "United's most significant contract to sell MileagePlus miles is with its co-branded credit card partner JPMorgan Chase Bank USA, N.A."

### Visa Inc (mid)  → /visa.md
- metric:  1.344$T · 2024 card purchase volume
- note: Largest US card issuer for the sixth straight year, with $1.344T of 2024 purchase volume (17.3%). Chase's cards run predominantly on Visa, paying Visa network/assessment fees.
- [confirms] Nilson Report (EN, news, published 2025-03-06) https://www.globenewswire.com/news-release/2025/03/06/3038338/0/en/JP-Morgan-Tops-Nilson-Report-Ranking-of-US-Credit-Card-Issuers.html: "For the sixth year in a row, JP Morgan Chase was the top issuer, based on more than $1.344 trillion in purchase volume."

### Mastercard Inc (low)  → /mastercard.md
- note: Also issues Mastercard-network cards (secondary). From 2026 it becomes the new issuer of the Apple Card, which runs on Mastercard, increasing its Mastercard volume.
- [confirms] SEC EDGAR (EN, filing, published 2026-01-13) https://www.sec.gov/Archives/edgar/data/19617/000162828026001902/a4q25erfexhibit991narrative.htm: "Looking ahead, we are excited to become the new issuer of the Apple Card."

Reverse side: https://valuechain.wiki/jpmorgan-chase/customers.md · Ripple: https://valuechain.wiki/jpmorgan-chase/ripple.md

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Full node: https://valuechain.wiki/jpmorgan-chase.md · JSON: https://valuechain.wiki/jpmorgan-chase.json