BPN to transform business payments with JP Morgan and Visa

BPNJ.P. Morgan will be utilizing Billtrust’s Business Payments Network (BPN) for streamlining the delivery process for B2B payments for its commercial card clients, as announced by Visa and Billtrust. The suppliers state that the agreement will facilitate efficient sending and receiving of digital payments.

“Since announcing BPN last year, we have received very positive feedback from financial institutions and are pleased to have J.P. Morgan as our first issuer using the platform,” said Kevin Phalen, global head, Visa Business Solutions. “As the leader in B2B digital payments, we are on track to surpass $1 trillion in payment volume this year and will continue to find new ways to integrate digital payments into B2B payment flows.”

BPN is expected to integrate financial and payment data and deliver streamlined reconciliation to suppliers. BPN aims to transform B2B payments and address industry challenges revolving around payments.

“BPN’s offering is a great fit for J.P. Morgan’s Commercial Card clients and their suppliers,“ said John Skinner, head of Commercial Card, J.P. Morgan. ”As we continue to invest in our Single-Use Accounts (SM) solution and partner with innovative, industry-leading providers, such as Visa and Billtrust, joining the network was a natural step in our roadmap.”

Recently, J.P. Morgan has announced the launch of E-Customs Payment Solutions in China, in a bid to provide a fully digital and automated cross-border payment of goods.

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