JP Morgan joins French payments network Cartes Bancaires CB

By Gloria Methri

JP Morgan has become a principal member of Cartes Bancaires CB, intending to offer its merchant clients access to the French payment network by the end of 2024.

Cartes Bancaires CB is the leading payment system in France with 15 billion CB transactions per year by card or via mobile phone. JP Morgan intends to offer merchant clients acquiring services of Cartes Bancaires CB payment transactions by the end of 2024.

Ludovic Houri, co-Head of EMEA Payments & Commerce Solutions, J.P. Morgan said, “Our north star is to enable our merchant clients to offer their customers a varied choice of payment options to suit their needs. Membership of Cartes Bancaires CB will help us take this to a whole new level in Europe and France in particular. It is also a huge honour to become a principal member of Cartes Bancaires CB. We are excited to participate in the strategic direction of the scheme by supporting its continued expansion and development, helping maintain its long history of providing secure and efficient payments to its users.”

Shahrokh Moinian, Head of EMEA Payments at J.P. Morgan said, “This is a testament to our unwavering commitment to the European and French payments markets. Our EMEA franchise has gone from strength to strength in recent years, and this is a major milestone in our growth journey and wider ambition to become Europe’s leading payments provider.”

J.P. Morgan’s EMEA Payments business now processes over $1 trillion of payments daily and supports merchants acquiring over 1,500 active European clients. It combines treasury services, trade & working capital, card, and merchant services capabilities to help clients pay customers or employees, in different currencies, around the world.

Philippe Laulanie, CEO of Cartes Bancaires CB, said, “We are proud that JP Morgan has chosen to join CB, the leading domestic card and mobile payment network in France. CB and JP Morgan share the same values, those that have made our respective organisations successful: the values of economic efficiency, innovation, inclusion, and security. The road that now opens before us leads us to numerous projects, which will bring real added value to the entire CB community.”