Boost Payment Solutions, Inc., the leader in optimizing the use and acceptance of commercial cards, announced today a strategic collaboration with J.P. Morgan.
Boost will now provide advanced payment processing technology to automate the delivery of J.P. Morgan's Single Use Card Accounts (SUA) and other commercial card payments to improve cash-flow, enhance and automate the exchange of remittance data and gain operational efficiency for both buyers and suppliers.
"Through this exciting collaboration, J.P. Morgan commercial card clients and their suppliers can now benefit from automated payment processing and remittance posting," said John Skinner, Head of Commercial Card at J.P. Morgan. "Boost's technology, paired with their supplier enrollment and reporting capabilities, enables our clients to overcome acceptance concerns and grow their card programs.”
Boost, the only FinTech acquirer exclusively focused on B2B payments, is uniquely positioned to serve J.P. Morgan's commercial card customers by enabling spend that is currently non-cardable to become cardable through Boost's unique technologies and capabilities. Boost's proprietary Straight-Through Processing (STP) platform, Boost Intercept, which converts manually processed virtual cards into a completely passive acceptance experience for suppliers, coupled with its Dynamic Boost platform, which is the first and only payment platform that utilizes rules-based dynamic interchange pricing for commercial card payments, is a unique and powerful "one two punch" that has been warmly received by the commercial card issuing community.
Customers of J.P. Morgan will now have access to Boost's platform and its extensive network of STP acceptors. "We're excited to partner with J.P. Morgan and to offer their portfolio of clients Boost's peerless product set and processes designed to maximize commercial card acceptance," said Dean M. Leavitt, Founder and CEO of Boost Payment Solutions. "We look forward to helping J.P. Morgan customers grow their card programs by capturing incremental spend through Boost's technology and time-tested supplier enrollment processes.”