JPMorgan launches payment partner network with Salesforce Commerce Cloud

Salesforce recently announced JPMorgan's BtoB Payment Partner Network, a new marketplace powered by Commerce Cloud. A solution that gives customers access to an ecosystem of third-party integrations for their end-to-end payments and working capital requirements.

FACTS

• The Payment Partner Network consists of third-party partners integrated with the JPMorgan payment platform, enabling customers to discover, research and learn more about JPMorgan's partner product solutions.

• JPMorgan's payments business combines merchant services, treasury, card issuing and financing capabilities to help customers make and receive payments anytime, anywhere.

• The partner network, initially launched in beta, is the first step in bringing together all JPMorgan Payments integrations into a single digital platform.

• In addition to the Payments Partner Network, JPMorgan has announced two new connectors for Salesforce AppExchange:

  • the "JPMorgan Payments Connecter for B2B Commerce and Order Management" 

  • and the "JPMorgan Payments B2C Commerce Cartridge", both available on the Payments Partner Network.

CHALLENGES

• Create an end-to-end B2B payment solution on a single digital platform: the network includes technology, software and hardware companies in the treasury and payment services value chain. It enables customers to easily find, view and leverage JPMorgan's third-party integration ecosystem for end-to-end payments and treasury needs.

• Leverage the Salesforce AppExchange experience for customers:

  • Discover self-service solutions: visitors to the platform can easily view and evaluate product integrations that meet their needs.

  • Help companies grow

  • Ease the deployment of these solutions.

• Facilitate virtual transactions from Salesforce: organizations using the Salesforce Commerce Cloud solution can now connect directly to the JPMorgan portal via its connector, this solution feeds virtual transactions from Salesforce and manages everything from customer payments to funds paid into customer accounts.

MARKET PERSPECTIVE 

• As a reminder, JPMorgan was one of the first banks to offer a tool based on artificial intelligence to decode central bank comments. In a market where prediction is paramount, knowing how to decipher the consequences of central bank decisions is a real "game changer". 

• A similar initiative was launched by American Express, which introduced a new B2B digital payments ecosystem. The Amex Business Link solution was a business-to-business payment system that enabled Amex customers to offer their business customers integrated and efficient domestic and cross-border payments.