JPMorgan Chase is reportedly planning to shut down its international commercial card operations by the end of this year.
JPMorgan Chase commercial card business spokesperson Edward Kozmor told Business Travel News (BTN): "We are concentrating on areas where we can best meet clients’ needs for a competitive offering and superior client experience.
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"We will move clients off EMEA platforms by December 13, 2015."
Kozmor added that the bank is in talks with multinational clients to ensure a smooth transition for their international card programs to a new solution of their choice.
According to BTN, the bank is also working with those clients to continue their North American card programs.
The move came less than three years after JPMorgan Chase teamed up with German payments firm AirPlus International to launch a cobranded global payment solution for its clients.
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By GlobalDataAs part of the closure, joint customers of JPMorgan Chase and AirPlus will remain with the latter firm, said an AirPlus International spokesperson.
"But in which way the further cooperation with [JPMorgan Chase] will continue has not been finally decided," the spokesperson added.
