JPMorgan has announced a strategic collaboration with Bora Payment Systems to support adoption of virtual cards for B2B landscape.

Bora’s payment processing platform, called Payer Direct Hub (PDH),  will automate delivery of JP Morgan’s Single Use Accounts payments that are linked to virtual card transaction.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The patented platform enables straight-through transaction processing and remittance posting of virtual card payments to suppliers.  Due to streamlining of the accounts receivables process, vendors will be able to accept virtual card payments from their corporate clients. Further, this platform will help slash down labour costs and boost cash flow.

The bank’s clients will be able to speed up SUA programme growth due to increase in supplier adoption of virtual card payments.

JPMorgan head of Commercial Card Molly Walsh said: “With this innovative collaboration, SUA clients gain a powerful new tool for supplier access and retention.

“The benefits delivered by PDH in conjunction with JPMorgan’s exceptional commercial card capabilities, give the most discerning and valuable suppliers quantifiable reasons to accept card payments.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“The Bora collaboration further illustrates J.P. Morgan’s commitment to providing creative solutions that deliver enhanced benefits for our commercial card clients and their suppliers.”

“Together, this powerful organization, which already includes our Trade Finance and Commercial Card business, will continue to develop our own worldwide payment capabilities, and partner with digital payment companies looking to expand in the U.S. and internationally.”

Earlier this year, the American bank announced its plans to combine its Chase Merchant Services with its Corporate and Investment Bank’s Treasury Services.