Serving as the fintech’s new banking provider, JP Morgan has supported Payload’s new payment facilitator status.
The alliance will enable Payload to enhance its integration-first inbound and outbound payment capabilities.
Payload’s solution seeks to help industries including real estate, insurance and legal payments address the issue of complex payment workflows.
The firm can now deliver Automated Clearing House (ACH), card network as well as real-time payments via a unified platform.
Payload CEO Ryan Rybolt said: “This new solution, powered by JP Morgan, will unlock our ability to deliver disruptive payment capabilities to the real estate industry and other industries that suffer from rigid and manual payment workflows.
“Many industries haven’t benefited from the payment digitisation era because of numerous constraints that we aim to overcome with our new platform and capabilities. We believe having access to JP Morgan’s industry expertise and analytics will help inform our expansion strategy.”
JP Morgan Commercial Banking Midwest – Technology & Disruptive Commerce managing director James Carlin said: “We are delighted to have been selected as Payload’s banking provider as they leverage our innovative payments solutions to unlock more advanced capabilities, while creating a more seamless experience for their customers.
“As the payments ecosystem evolves, JP Morgan is committed to harnessing innovative technologies to deliver industry-leading solutions for companies of all sizes and every stage of growth.” In 2021, JP Morgan partnered with DBS Bank and Temasek to develop a new blockchain-based platform through a newly established technology firm Partior.