Walmart has formed an embedded finance partnership with JPMorgan Chase, enabling thousands of merchants on its marketplace platform to accept and make payments.
According to Reuters, Walmart’s marketplace features over 700 million items from 100,000 sellers. This collaboration with JPMorgan allows U.S. merchants to accept payments and manage cash flow using the bank’s systems, with potential expansion to merchants in Europe and other regions.
Lia Cao, head of embedded finance and solutions at JPMorgan, mentioned to Reuters that the bank currently has over 20 clients in embedded finance partnerships, with expectations to double that number within the next year.