Introduction to Our Global Payments Strategy (GPS)

As of September 2024, certain payment processing products have now transitioned to our strategic payments platform. Now that the full capabilities and enhancements are live, clients have greater visibility, flexibility and control over payments across global accounts with capabilities such as

  • Consistent structure of J.P. Morgan Bank Transaction Reference Number (all payment transactions)
  • Enhanced transaction validation and return matching
  • Harmonized and enriched return and reject reporting
  • Extended product capabilities

What’s Happening?

The strategic payment platform now includes processing of ACH (Automated Clearing House) clearings and wires:

ACH Clearings

  • Multi-Currency ACH product supporting payments in Norway, Sweden, Denmark, Czech Republic, Hungary and Poland
  • UK Bacs
  • UK Faster Payments
  • SEPA (Single Euro Payments Area - EEA)
  • South Africa Bankserv
  • Italian Ri.Ba

N.B. Mexico and Canada ACH will move to a new North America ACH platform.

Wires

  • South Africa SAMOS

You Should Know

The new processing platform is mostly transparent to clients. Although there are no changes to the core processing, there may be changes that will be visible which have been communicated previously.

For further details on how these changes may impact you, please review the relevant clearing product page.

Questions?

Please contact your service representative.