J.P. Morgan (NYSE: JPM) today announced the launch of Digital Bill Payment, powered by Paymentus, a leading provider of cloud-based bill payment technology and solutions.
With Paymentus, the firm will equip businesses with a single, modern platform for customer engagement, bill presentment and payments.
Businesses expect their payments partners to offer modern and fast integrated receivables capabilities, such as Digital Bill Payment, and requests for these types of solutions accelerated in the last 18 months. This solution is part of the firm’s efforts to help clients digitize the entire receivables journey—via new innovations like request to pay and upcoming solutions aimed at automating the acceptance of virtual card payments.
“Our clients expect us to provide modern capabilities and integrated solutions and with Paymentus, we’re uniting a leading, innovative FinTech platform with the #1 payments processing provider in the U.S.,” said Max Neukirchen, Global Head of Payments & Commerce Solutions, J.P. Morgan. “Digital Bill Payment will help clients accelerate revenue realization, reduce costs to serve their customers, and improve user satisfaction through convenient and intuitive interactions.”
The Paymentus platform is an omnichannel, unified and highly configurable solution that was used by approximately 16 million customers and businesses (from local municipalities to Fortune 50 companies) as of December 2020. The platform provides the ability to view bills and make payments through web, mobile, IVR, kiosk, chatbot, voice assistant and digital wallets. Clients will interact with a simplified, secure, and customizable experience to receive and reconcile remittance data as well as enhance the downstream customer journey, enabling the ability to pay when, where, and how they want.
Dushyant Sharma, President and CEO, Paymentus
“We couldn’t be more excited to work with J.P. Morgan to simplify how bills are paid,” said Dushyant Sharma, Paymentus President and CEO. “The combination of J.P. Morgan’s leading payments platform, our omnichannel payment operating system and Instant Payment Network™ ecosystem will provide clients every tool needed to more efficiently and effectively communicate, bill and collect payments from their customers.”