Visa and JPMorgan have agreed a strategic partnership to enhance merchant experiences, empower cardholders and drive innovation. Specifically, the JPMorgan is introducing faster domestic payments in the US, through the Visa Direct network.
With Visa Direct’s extensive reach in the US, JPMorgan Payments will empower merchants, businesses and fintech to embed faster domestic payments into their solutions. This includes its Push to Card payment rail, enabling fast and secure movement of funds directly to recipients’ bank accounts and digital accounts simply by leveraging the debit card credential. Combining Visa Direct’s real-time reach to bank accounts across the US, proven security, trust and value-added services will further enhance JP Morgan Payments’ money movement solutions offered across client segments and business units.
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Streamlining payment processes, enhancing liquidity management
John Skinner, co-head of Treasury Services at JPMorgan Payments, said: “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. It enhances liquidity management, and provides greater convenience for our customers.”
Yanilsa Gonzalez Ore, Head of Money Movement Solutions, NA, Visa, added: “We’re thrilled to be working with JPMorgan Payments. Their dedication to excellence and customer-centric approach mirrors our own values. The addition of faster payments across North America for JPMorgan Payments customers is a further step in delivering on that promise. It provides quicker, more efficient movement of money that benefit businesses, consumers, and the broader economy.”
Visa and JPMorgan Payments share a common vision. That is to create a world where money movement is seamless, secure, and accessible to all. This collaboration represents a significant step toward achieving that vision. Both organisations are committed to driving positive change in the financial ecosystem.
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