Boost to provide electronic payments for JP Morgan commercial cards

JP MorganNew York-headquartered Boost Payment Solutions, Inc., has entered into a strategic collaboration with investment banking firm JP Morgan. Under the deal, Boost Payment will provide advanced payment processing technology to automate the delivery of JP Morgan’s Single-Use Card Accounts (SUA) and other commercial card payments.

The collaboration aims to improve cash-flow, enhance and automate the exchange of remittance data and gain operational efficiency for both buyers and suppliers, the companies said.

“Through this exciting collaboration, JP Morgan commercial card clients and their suppliers can now benefit from automated payment processing and remittance posting,” said John Skinner, Head of Commercial Card at JP Morgan. “Boost’s technology, paired with their supplier enrollment and reporting capabilities, enables our clients to overcome acceptance concerns and grow their card programs.”

Through the collaboration, customers of JP Morgan will get access to Boost’s platform and its network of STP acceptors.

“We’re excited to partner with JP Morgan and to offer their portfolio of clients Boost’s peerless product set and processes designed to maximize commercial card acceptance,” said Dean M. Leavitt, Founder and CEO of Boost Payment Solutions. “We look forward to helping J.P. Morgan customers grow their card programs by capturing incremental spend through Boost’s technology and time-tested supplier enrollment processes.”

Boost will enable the bank’s commercial card customers to spend that is currently “non-cardable” to become “cardable”. Boost’s proprietary Straight-Through Processing (STP) platform, Boost Intercept, converts manually processed virtual cards into a completely passive acceptance experience for suppliers, the company added.

The US-based Boost Payment Solutions is a FinTech acquirer, exclusively focused on B2B payments. It processes cards on behalf of suppliers, allowing them to more easily accept and manage commercial card payments.

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