JP Morgan Treasury Services and Fundtech have
agreed to a joint venture providing international payments services
to US banks using PAYplus.
Under the new system, banks with PAYplus will
be able to offer enhanced foreign exchange in more than 135
currencies and cross border payment services to their clients.
“Our partnership with JP Morgan Treasury
Services provides Fundtech’s PAYplus US clients the ability to
seamlessly add FX transactions to their US wire transfer system,”
said Anthony Salamone, Fundtech’s vice president for US Payment
“These banks will be better able to service
their client’s expanding need for international payments and profit
from this important value-added service.”
The move is aimed at creating a flexible,
more-options approach to transaction processing.