The Commercial Card business of JP Morgan has selected TSYS, a credit card issuer and processor, to provide virtual payment solution.

JP Morgan will offer TSYS’ commercial card payables solution, Virtual Payment Precept (VPP), to its corporate customers.

The VPP solution is designed to generate secure, virtual and single-use account information in real-time.

TSYS said that its VPP platform is a more efficient system for reducing risk and making transaction reconciliation earlier by both accounts payable and receivable.

Using the platform, the bank will be able to issue cards on both the Visa and Mastercard networks.

TSYS group executive of commercial services Scot Yarbrough said: “We are thrilled that JP Morgan’s Commercial Card business is utilising our solution to continue to grow their business by leveraging the latest technologies.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

JP Morgan head of commercial card product Naney Pandit said: “Virtual cards are a vital component of our clients’ payments strategy and business operations and this will continue to power our clients’ and suppliers’ growth.”