According to the report[1], the 45 largest acquirers handled over 22 billion web-based transactions with a value of over $1 trillion last year. J.P. Morgan processed more than five billion online transactions on behalf of clients in 2020, with a market share of 23.4%. J.P. Morgan also maintained its position as top U.S. processor of retail and ecommerce transactions.

As consumer behaviour continues to evolve, merchants are turning to J.P. Morgan to help respond and to streamline their business processes. Later this year J.P. Morgan plans to offer card present solutions in a selection of European countries – enabling in store payment for the first time. This is an important step in the firm’s European omnichannel payments journey, and complements the existing suite of products it offers merchants in the region.

“As many of our retail clients on the European high street begin to emerge after managing the challenges of a global pandemic, we will be in a position to support them as they navigate the post-lockdown era, ” said Basil Bailey, Head of Product for EMEA Merchant Services. He added: “While e-commerce has clearly accelerated during the last year, we’re also seeing that consumers are keen to return to physical stores. Streamlining merchants’ operations during this readjustment period by offering them an in-store payment option alongside our established e-commerce processing platform will enable them to save time, costs and ultimately focus on growth.”

The new card present solution demonstrates the firm’s commitment to international growth and expansion. Collaborators including ACI Worldwide, Aurus and FreedomPay will support the firm in delivering this enhanced offering and helping retailers adapt to a new landscape.