JP Morgan Commercial Card Solutions has enhanced its accounts payable (A/P) automation and working capital portfolio. The bank is investing in its quickly-growing Single-Use Accounts (SUA) solution by making it more easily configurable for buyers and providing greater value to suppliers. In addition, JP Morgan also announced the integration of its A/P automation platform with its trade finance platform, facilitating the creation of an integrated supply chain finance offering.
“Our SUAs offering is a cornerstone of JP.Morgan’s A/P portfolio. Clients are realising the true value of an electronic card solution: an efficient, low cost alternative to paper cheques that offers rebates as well as excellent spend visibility and tracking,” said David Peraino, managing director, business-to-business (B2B) Payment Solutions, JP Morgan. “Our growth in both client adoption and spend is reflective of this value and will drive further innovation in this product area going forward.”
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