J.P. Morgan Named #1 Merchant Acquirer in the U.S. by Purchase Volume
and #1 e-commerce Provider in Europe
Firm processes nearly a third of all of European e-commerce spend
NEW YORK, NY Jun 06, 2019 J.P. Morgan’s focus and investments in global e-commerce payments are paying off with multiple top rankings from the Nilson Report and the Strawhecker Group.
In the past four months alone, The Nilson Report named the firm:
- #1 merchant acquirer in the U.S. by purchase volume
- #1 e-commerce provider in Europe by web transaction volume
- #4 merchant acquirer in Europe by transaction volume
And the Strawhecker Group named J.P. Morgan the #1 merchant acquirer in the U.S.
Global e-commerce spend is growing fast and expected to exceed $4.6 trillion by 2022, according to Edgar Dunn and Company. Today, J.P. Morgan processes nearly 30% of e-commerce transactions in Europe and more than 50% in the United States. The firm has grown total merchant processing volume by more than 10% each of the past 37 quarters.
“e-Commerce payments are quickly evolving and give our global clients a competitive advantage, so we are investing significantly to set the pace,” said Matt Kane, CEO of Merchant Services at J.P. Morgan. “With continued advancement in technology, combined with our local expertise around the world, we are making progress on our vision that J.P. Morgan clients will be able to accept payments anywhere in the world, in any currency, and through any method of payment.”
Key factors in J.P. Morgan’s growth are its ability to help clients navigate an increasingly complex regulatory environment and stay ahead of security and fraud challenges. New regulations such as Secure Customer Authentication (SCA) in the European Union increase the complexity of accepting e-commerce payments for U.S.-based companies doing business in European markets. Expanding to new markets successfully requires a provider that has extensive in-market knowledge and experience with regulations and their consumer impacts. As the top Treasury Services provider in the world with an on-the-ground presence in nearly 60 countries, J.P. Morgan offers 24/7 support in every time zone around the globe. The firm invests $11.5 billion in technology, security and fraud prevention annually to ensure its clients and their customers can transact safely and seamlessly.
Learn more about J.P. Morgan’s global payments offerings by visiting https://www.jpmorgan.com/country/US/en/merchant-services.