Catherine Moore, J.P.Morgan: "It is our aim to support the main ecommerce methods of payment in Europe"

Chase Paymentech recently rebranded to J.P. Morgan. What has been the motivation for this, could you elaborate a bit more on the ecommerce position of J.P. Morgan?

In November 2015, we aligned to the J.P. Morgan branding, moving away from Chase Paymentech in Europe to J.P. Morgan Commerce Solutions. Our payments business now stands alongside J.P. Morgan’s other international financial services divisions, such as Corporate and Investment Banking. Using consistent branding in Europe has allowed us to speak to our customers more cohesively about J.P. Morgan’s end-to-end offering, beginning with acquiring and payment processing, and extending into FX services and payables, an offering which we feel makes us unique in the market.

In Europe, Commerce Solutions operates in the ecommerce CNP space, providing processing and merchant acquiring services. For more than a decade, we have served Europes top eCommerce brands, and in 2016 The Nilson Report ranked J.P. Morgan Commerce Solutions number one acquirer of web transactions in Europe. The Paymentech name has a strong reputation and will be preserved as the name of our core acquiring platform.

What are the opportunities for further growth in Europe for J.P. Morgan?

We work closely with our clients to offer products and services that may help them navigate their evolving payments and wider cash management needs. As they strive to give their customers a seamless shopping experience across multiple channels in specific markets, it is our aim to support the main ecommerce methods of payment in Europe, as well as to extend our omni-channel presence and geographic footprint. Our Business Intelligence consultancy offering is an important growth enabler that our clients value for its quality and tailored insights. In the US, in addition to being the largest merchant acquirer, JPMorgan Chase is also a leading credit card issuer, with over 90 million credit, debit and prepaid card accounts. This means we can also offer our clients in Europe unrivalled access to US consumers. Companies understand that payments are only one part of a larger working capital management conversation. Heads of Treasury work with us to explore how ecommerce can positively impact overall operating performance and minimise risk.

Can you paint us a picture of how you will be supporting merchants in 5 years?

With technology evolving so quickly, it’s hard to say what specific technological forms today will be prevalent in 2021. I believe that consumers will have increased their use of digital form factor when paying for goods and services. We should also see a higher percentage of people using digital person-to-person (P2P) payments when exchanging money with one another. Across the globe, we are seeing an increase in this type of transaction, with particularly high-growth in Asian emerging markets. Foreign exchange will become more of a service in whatever currency they need.

Currently, between all our international operations, we can process in-person, in-app and/or online “on the Web” transactions, and also transactions initiated from Apple Pay, Android Pay wallet and Samsung wallets. These differentiations won’t exist in 5 years, but we will still be providing the underlying infrastructure to power global payments reliably and efficiently.

We are almost halfway through 2016, what trends in CNP fraud have you seen this year?

J.P. Morgan Commerce Solutions’ commitment to mitigating CNP fraud extends not just through our dedicated Fraud Analyst team, but also through our Board membership of the global trade association for ecommerce fraud, the Merchant Risk Council.

We use payment data to help businesses implement the relevant fraud strategy that may help them to boost their revenues by turning more orders into sales, increase profitability from international markets, and protect brand reputation. To be successful, retailers have to find a way to extend their brand into the digital space, based on consumer-defined behavioural frameworks that are still emerging. For an industry that once defined what consumers could buy, when, and where, this loss of control could be a huge challenge.

About Catherine Moore

Catherine Moore is President and Managing Director for J.P. Morgan Commerce Solutions, the merchant acquiring and payment processing arm of JPMorgan Chase & Co. As President, Catherine has full operational and P&L responsibility for the business. Having joined J.P. Morgan in June 2010, Catherine brings more than 15 years of experience in finance, strategy and partnership management across a range of industries. Prior to joining J.P. Morgan, Catherine was head of EMEA Marketing & Strategy at American Express Commercial Card. Catherine holds an MBA in Change Management from the London Business School, and a Bachelor of Arts in Quantitative Economics and Decision Sciences from the University of California, San Diego.

About J.P Morgan

J.P. Morgan Commerce Solutions, the international payment acceptance and merchant acquiring business of JPMorgan Chase & Co. (NYSE: JPM), is a leading provider of payments, fraud management and data security solutions. The company’s proprietary platforms provide integrated commerce solutions for all major credit and debit card payments, authorising transactions in more than 120 currencies. Globally, Commerce Solutions processed 42 billion transactions with a value of USD 949.3 billion in 2015.