Checkbook has integrated into the J.P. Morgan Payments Partner Network, as part of its efforts to modernise digital check payments.
This collaboration will allow J.P. Morgan Payments’ corporate clients to issue digital checks directly from their bank accounts.
Digital checks are expected to enhance the security and speed of transactions, providing recipients with a flexible method to receive funds.
Through Checkbook’s platform, J.P. Morgan’s customers can streamline disbursements and improve their overall payment operations.
Checkbook CEO PJ Gupta said: “Our relationship with J.P. Morgan Payments further underscores our commitment to delivering cutting-edge payment solutions that meet the evolving needs of today’s businesses.”
The partnership provides several key advantages for users of Checkbook’s digital check solution.
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By GlobalDataThese include the ability to leverage existing J.P. Morgan bank accounts for seamless payment processing, the customisation of digital checks with company branding, instant delivery of checks without postal delays, cost savings, and reduced administrative tasks compared to traditional paper checks.
Additionally, the digital approach aligns with environmental sustainability efforts, supporting clients’ ESG goals.
J.P. Morgan Payments Corporate Development and Partnerships global head Jason Tiede said: “By curating one of the largest networks with hundreds of partners, we connect our clients to advanced technology solutions, backed by the trust and security of our firm, to create powerful and integrated payment experiences that drive business growth.”
J.P. Morgan Payments, which combines treasury services, trade and working capital, card and merchant services, processes nearly $10tn daily across more than 160 countries in over 120 currencies.
In August this year, J.P. Morgan Payments expanded its partnership with PopID to introduce in-store biometric payments for pilot merchants in the US.