J.P. Morgan launches Digital Bill Payment solution
Firm begins working with Paymentus to modernize electronic bill payments for clients
October 22, 2021 (NEW YORK) – J.P. Morgan (NYSE: JPM) today announced the launch of Digital Bill Payment, powered by Paymentus, a leading provider of cloud-based bill payment technology and solutions. With Paymentus, the firm will equip businesses with a single, modern platform for customer engagement, bill presentment and payments.
Businesses expect their payments partners to offer modern and fast integrated receivables capabilities, such as Digital Bill Payment, and requests for these types of solutions accelerated in the last 18 months. This solution is part of the firm’s efforts to help clients digitize the entire receivables journey—via new innovations like request to pay and upcoming solutions aimed at automating the acceptance of virtual card payments.
Max Neukirchen, Global Head of Payments & Commerce Solutions, J.P. Morgan
“Our clients expect us to provide modern capabilities and integrated solutions and with Paymentus, we’re uniting a leading, innovative FinTech platform with the #1 payments processing provider in the U.S.,” said Max Neukirchen, Global Head of Payments & Commerce Solutions,
J.P. Morgan. “Digital Bill Payment will help clients accelerate revenue realization, reduce costs to serve their customers, and improve user satisfaction through convenient and intuitive interactions.”
The Paymentus platform is an omnichannel, unified and highly configurable solution that was used by approximately 16 million customers and businesses (from local municipalities to Fortune 50 companies) as of December 2020. The platform provides the ability to view bills and make payments through web, mobile, IVR, kiosk, chatbot, voice assistant and digital wallets. Clients will interact with a simplified, secure, and customizable experience to receive and reconcile remittance data as well as enhance the downstream customer journey, enabling the ability to pay when, where, and how they want.
J.P. Morgan to simplify how bills are paid.
Dushyant Sharma, President and CEO, Paymentus
“We couldn’t be more excited to work with J.P. Morgan to simplify how bills are paid,” said Dushyant Sharma, Paymentus President and CEO. “The combination of J.P. Morgan’s leading payments platform, our omnichannel payment operating system and Instant Payment Network™ ecosystem will provide clients every tool needed to more efficiently and effectively communicate, bill and collect payments from their customers.”
Click here for more information about Integrated Receivables.
About J.P. Morgan’s Payments Business
J.P. Morgan’s Payments business combines the firm’s treasury services, trade, card and merchant services capabilities to help clients pay anyone, at any time, from anywhere in the world. Operating at the forefront of payments innovation, our solutions help clients succeed in an era of digital transformation and evolving customer expectations. J.P. Morgan processes approximately 26 million transactions per day worth between $6-8 trillion, is the world’s top USD clearer and was the first bank to offer real-time payments across USD, GBP and EUR.