Payments Briefing: A closer look at J.P. Morgan Payments’ new full stack solution and what it says about the bank’s ambitions
- The new solution targets eliminating the disjointed experience caused by using multiple payment service providers.
- JPMorgan isn't the only player offering a full-stack solution. Non-bank large payment providers like Adyen and Stripe also provide comprehensive payment services. So, what sets JPM’s solution apart?
Welcoming the new year, J.P. Morgan Payments has rolled out a full-stack payments solution for merchants in North America.
The new B2B omnichannel solution oversees all technology and transaction touchpoints through a single provider, J.P. Morgan Payments. This aims to simplify the payment process and its technical aspects for merchants, providing a smoother shopping and checkout experience for buyers, whether online or in-store.
A closer look at the new solution
We look at how customers can shop – the payment flows from signing up to making a purchase online and picking it up in-store – using the new solution.
First, an end customer completes a one-time enrollment on J.P. Morgan Payments’ mobile website. She provides basic details and contact information, consents to the T&Cs, and approves the Privacy Notice. J.P. Morgan verifies the information, and the consumer then takes a photo, which J.P. Morgan also verifies. Card details are also entered for future use.
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