JP Morgan Payments has extended its B2B virtual card offering to Europe in partnership with Mastercard.
The service targets corporate clients seeking accounts payable automation and working capital optimisation across sectors such as insurance, healthcare, travel, and commercial real estate.
According to The Paypers, JP Morgan already holds a leading position in virtual card payments in North America as the largest issuer of commercial cards, including virtual cards.
The European launch allows corporates to automate payment creation and reconciliation using virtual card infrastructure.
A particular focus of the rollout is the wholesale travel sector. Here, online travel agencies manage payments to hotels, airlines, and car rental companies.
JP Morgan will use the Mastercard Wholesale Programme to support faster and more secure supplier payments. It will also provide reconciliation data to aid business management.
The expansion also incorporates Mastercard’s B2B Supplier Enablement and Activation Service. This service facilitates onboarding for buyers and suppliers and aims to increase acceptance of virtual cards.
Karen Ions, Head of Commercial Card Client Management and Delivery at JP Morgan Payments, said:
“Virtual cards bring clarity, security, and agility to supplier payment complexity, particularly in the travel industry. The European expansion reaffirms our commitment to helping clients modernise payments globally.”
Marc Pettican, Global Head of Corporate Solutions at Mastercard, added:
“The collaboration goes beyond virtual card issuance to remove complexity from both sides of the B2B transaction through supplier enablement, helping buyers and suppliers adopt and scale virtual card programmes.”
Featured image credit: Edited by Fintech News Switzerland, based on image by shanchali876 via Freepik
