JP Morgan is set to enhance domestic payments in the US through the Visa Direct network.
JP Morgan Payments has announced that Visa Direct will enable merchants, businesses, and fintechs to integrate faster domestic payment solutions into their services. This includes the Push to Card payment rail, which allows funds to be transferred directly to recipients’ bank accounts and digital accounts using debit card credentials.
John Skinner, co-head of treasury services at JP Morgan Payments, stated, “By boosting our ability to deliver faster payments, we’re streamlining payment processes, enhancing liquidity management, and providing greater convenience for our customers.”
Yanilsa Gonzalez Ore, head of money movement solutions for North America at Visa, commented, “The addition of faster payments across North America for J.P. Morgan Payments customers is a further step in delivering on that promise, providing quicker, more efficient movement of money that benefits businesses, consumers, and the broader economy.”