Conferma’s membership within J.P. Morgan Payments’ Partner Network now allows EU-based businesses to more efficiently issue and manage virtual cards, unlocking multi-currency functionalities and enhancing operational flexibility.
Benefits for Businesses
- Enhanced Payment Capabilities – Corporates can now issue virtual cards, streamlining international transactions and providing greater global agility.
- Multi-Currency Efficiency – Virtual cards facilitate payments in local currencies, minimizing foreign exchange costs and improving overall payment efficiency.
- Optimized Integration – Conferma’s API technology seamlessly integrates with ERP, procurement, and expense management systems, promoting wider adoption.
- Improved Financial Oversight – Businesses gain greater visibility, control, and enhanced fraud protection, boosting compliance and security measures.
Together, these companies aim to revolutionize sectors with high-volume cross-border transactions such as corporate travel, procurement, and finance. J.P. Morgan Payments’ comprehensive suite of payment solutions supports clients in building and refining tailored payment strategies that meet their specific business needs.
This partnership comes after recent growth projections for the European virtual card market, which is expected to see an annual compound growth rate (CAGR) exceeding 20% from 2022 to 2027. The shift towards digital and contactless payment methods is driving this expansion. Virtual cards also optimize B2B transactions throughout the entire process, potentially reducing manual work and processing costs by up to 70%, thus generating substantial operational savings for businesses.
The J.P. Morgan Payments’ virtual card services are now available to eligible Conferma European corporates.
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