Visa and JPMorgan Partner to Facilitate Businesses with Faster Payments
Visa Inc. (NYSE: V) and JPMorgan Payments have announced a
strategic collaboration aimed at enhancing merchant experiences and empowering
cardholders through innovative solutions. The collaboration focuses on
introducing faster domestic payments in the US utilizing the Visa Direct
network.
With Visa Direct’s widespread reach in the US, JPMorgan
Payments intends to enable merchants, businesses, and fintech firms to
integrate faster domestic payments into their solutions. This includes
leveraging Visa Direct’s Push to Card payment rail, facilitating the swift and
secure transfer of funds directly to recipients’ bank accounts and digital
accounts using debit card credentials.
By combining Visa Direct’s real-time reach to bank accounts
across the US with JPMorgan Payments’ expertise in money movement solutions,
both entities aim to enhance the efficiency and security of financial
transactions across various client segments and business units.
JPMorgan Payments’ Daily Transaction Facilitation
John Skinner, Co-Head of Treasury Services at JP Morgan Payments, Source: LinkedIn
The collaboration reflects a shared vision between Visa and
JPMorgan Payments to create a world where money movement is seamless, secure,
and accessible to all. JPMorgan Payments, known for its treasury services, trade,
card, and merchant services capabilities, plays a role in facilitating global
payments. Processing over $10 trillion in payments daily, the company operates
in more than 160 countries and supports over 120 currencies.
John Skinner, Co-Head of Treasury Services at JP Morgan
Payments, commented: “This is an important collaboration for our clients and
our business. Visa Direct’s capabilities align strategically with our
commitment to delivering innovative solutions to our clients. By boosting our
ability to deliver faster payments, we’re streamlining payment processes,
enhancing liquidity management, and providing greater convenience for our
customers.”
Visa Inc. (NYSE: V) and JPMorgan Payments have announced a
strategic collaboration aimed at enhancing merchant experiences and empowering
cardholders through innovative solutions. The collaboration focuses on
introducing faster domestic payments in the US utilizing the Visa Direct
network.
With Visa Direct’s widespread reach in the US, JPMorgan
Payments intends to enable merchants, businesses, and fintech firms to
integrate faster domestic payments into their solutions. This includes
leveraging Visa Direct’s Push to Card payment rail, facilitating the swift and
secure transfer of funds directly to recipients’ bank accounts and digital
accounts using debit card credentials.
By combining Visa Direct’s real-time reach to bank accounts
across the US with JPMorgan Payments’ expertise in money movement solutions,
both entities aim to enhance the efficiency and security of financial
transactions across various client segments and business units.
JPMorgan Payments’ Daily Transaction Facilitation
John Skinner, Co-Head of Treasury Services at JP Morgan Payments, Source: LinkedIn
The collaboration reflects a shared vision between Visa and
JPMorgan Payments to create a world where money movement is seamless, secure,
and accessible to all. JPMorgan Payments, known for its treasury services, trade,
card, and merchant services capabilities, plays a role in facilitating global
payments. Processing over $10 trillion in payments daily, the company operates
in more than 160 countries and supports over 120 currencies.
John Skinner, Co-Head of Treasury Services at JP Morgan
Payments, commented: “This is an important collaboration for our clients and
our business. Visa Direct’s capabilities align strategically with our
commitment to delivering innovative solutions to our clients. By boosting our
ability to deliver faster payments, we’re streamlining payment processes,
enhancing liquidity management, and providing greater convenience for our
customers.”
