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July 28, 2011updated 04 Apr 2017 4:15pm

JP Morgan and Fundtech agree JV

JP Morgan Treasury Services and Fundtech have agreed to a joint venture providing international payments services to US banks using PAYplus.

By Suruchi Joshi

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 Products.

“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.

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