JP Morgan Partners with Visa Direct to Accelerate Domestic Payments

Discover how JP Morgan is revolutionizing domestic payments in the US by partnering with Visa Direct to introduce faster transactions, streamlining processes and enhancing convenience for businesses and consumers alike.

JP Morgan is set to revolutionize domestic payments in the US by leveraging the Visa Direct network to facilitate faster transactions.

JP Morgan Payments has unveiled plans to integrate Visa Direct, enabling merchants, businesses, and fintech companies to seamlessly incorporate faster domestic payments into their services.

The collaboration will encompass the Push to Card payment rail, facilitating the direct transfer of funds to recipients’ bank accounts and digital wallets using their debit card credentials.

John Skinner, co-head of treasury services at JP Morgan Payments, highlights the transformative impact of enhancing their capabilities for faster payments. He emphasizes that by streamlining payment processes, improving liquidity management, and offering greater convenience to customers, JP Morgan is poised to elevate the efficiency and effectiveness of financial transactions.

Yanilsa Gonzalez Ore, head of money movement solutions for North America at Visa, underscores the significance of introducing faster payments across North America for JP Morgan Payments customers. She emphasizes that this initiative aligns with Visa’s commitment to delivering seamless, efficient money movement solutions that benefit businesses, consumers, and the broader economy.

This strategic partnership between JP Morgan and Visa Direct marks a significant milestone in advancing the landscape of domestic payments in the US, promising enhanced speed, efficiency, and convenience for all stakeholders involved.