Conferma, the leading virtual card technology provider, has expanded its strategic membership in the J.P. Morgan Payments Partner Network to include J.P. Morgan Payments’ industry-leading virtual card solutions as part of its European offerings. This expansion offers European-based businesses the opportunity to issue and manage virtual cards effortlessly, unlocking multi-currency capabilities and providing greater flexibility to streamline payments across the region.
As demand for faster, more secure payment solutions surges, the adoption of virtual cards is rapidly accelerating, with 88% of businesses currently using or considering using virtual cards. J.P. Morgan Payments’ virtual card services offer businesses in Europe the opportunity to access virtual card services and benefit from trusted payment capabilities—simplifying procurement, boosting cash flow, and enhancing security.
What this means for businesses:
-
Expanded payment freedom: Corporates can issue virtual cards, eliminating international barriers and empowering businesses with greater global agility.
-
Multi-currency efficiency: Virtual cards enable payment in local currencies, reducing FX costs and improving payment efficiency.
-
Seamless integration: Conferma’s API technology integrates directly with ERP, procurement, and expense management platforms, making adoption effortless and quick.
-
Stronger financial oversight: Businesses gain more visibility, control, and fraud protection, enhancing compliance and security.
Transforming payment ecosystems across industries
Conferma’s membership in the J.P. Morgan Payments Partner Network could transform industries with high-volume, cross-border transactions such as corporate travel, procurement, and finance. By combining J. P. Morgan Payments’ virtual card solutions through the J.P. Morgan Payments Partner Network with Conferma’s seamless technology, businesses can accelerate payments, enhance security, and cut operational costs.
The J.P. Morgan Payments Partner Network – which has over 80 member companies – brings together J.P. Morgan Payments’ extensive suite of payment solutions and its third-party relationships to help clients build, implement, expand and optimize payments strategies based on their business needs.
Unlocking major efficiencies for corporates
The European virtual card market is projected to grow at over 20% CAGR from 2022 to 2027, driven by the shift toward digital, contactless payments. Virtual card solutions also streamline B2B payments across the entire process. Automating the B2B payment flow with virtual cards can reduce manual work and processing costs by up to 70%, driving significant operational savings for businesses.
“This collaboration with Conferma, part of our growing global Partner Network, enables a greater number of European businesses to access cutting-edge payment solutions.”,” said Jason Tiede, Global Head, Corporate Development and Partnerships at J.P. Morgan Payments. “We are committed to providing our clients with payments solutions that enable them to be agile, optimize cash flow, and reduce administrative burdens.”
“J. P. Morgan Payments is a powerhouse in global payments, and this collaboration brings together the best of both worlds—enhancing payment flexibility and security for businesses worldwide,” added Jason Lalor, CEO at Conferma. “Together, we aim to reshape the future of B2B payments in Europe.”
J.P. Morgan Payments combines treasury services, trade & working capital, and card and merchant services capabilities to help clients pay customers or employees in different currencies around the world. It processes nearly $10 trillion payments daily, operating in over 160 countries and over 120 currencies.
How to get started
J. P. Morgan Payments’ virtual card capabilities are now available for eligible Conferma European corporates. Businesses interested in optimizing their payment processes can visit conferma.com to learn more.
