Boost Payment Solutions has announced a strategic collaboration with J.P. Morgan. Boost will now provide payment processing technology to automate the delivery of J.P. Morgan’s Single Use Card Accounts (SUA) and other commercial card payments to improve cash-flow, enhance and automate the exchange of remittance data and gain operational efficiency for both buyers and suppliers.
“Through this exciting collaboration, J.P. 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 J.P. Morgan. “Boost’s technology, paired with their supplier enrollment and reporting capabilities, enables our clients to overcome acceptance concerns and grow their card programs.”
Boost, a fintech acquirer exclusively focused on B2B payments, says it is positioned to serve J.P. Morgan’s commercial card customers by enabling spend that is currently non-cardable to become cardable. The fintech's proprietary straight-through processing (STP) platform, Boost Intercept, converts manually processed virtual cards into a completely passive acceptance experience for suppliers. This is coupled with its Dynamic Boost platform, which uses rules-based dynamic interchange pricing for commercial card payments. Customers of J.P. Morgan will now have access to Boost’s platform and its network of STP acceptors.
“We look forward to helping J.P. Morgan customers grow their card programmes by capturing incremental spend through Boost’s technology and time-tested supplier enrollment processes," commented Dean M. Leavitt, founder and CEO of Boost Payment Solutions.
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