JP Morgan’s commercial card solutions unit has
announced new investment plans in an effort to increase benefits
for its users.
The bank will integrate its accounts payable
(AP) automation platform with its trade finance platform, as well
as investing in its Single-Use Accounts (SUA) solution to increase
benefits for both buyers and suppliers.
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“Our SUA offering is a cornerstone of JP
Morgan’s AP portfolio,” said David Peraino, managing director for
B2B Payment Solutions at JP Morgan.
“Clients are realising the true value of an
electronic card solution: an efficient, low cost alternative to
paper cheques that offers rebates as well as excellent spend
visibility and tracking,”
JP Morgan has recently released a revised
comprehensive version of the electronic payable system-SUA that
offers new features. Customers can use SUA to streamline the AP
process by providing an electronic replacement for paper cheque
payments. The system can also be used for a number of business
activities.
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By GlobalData
