News

JP Morgan enhances Single-Use Accounts service

Friday 15 July 2011 11:31 CET | News

Global financial services provider JP Morgan’s Commercial Card Solutions unit has recently added enhancements to its accounts payable (AP) automation and working capital portfolio and has invested in its Single-Use Accounts (SUA) service. In addition, the company has integrated its AP automation system with its trade finance platform.

By using the SUA service, buyers are enabled to integrate directly with their enterprise resource planning (ERP) systems to create and reconcile SUA payments and to add working capital and AP automation services, such as invoicing, when ready.

On the supplier side, the SUA offering is set to offer a portal where suppliers can receive SUA payment details, including card number details, cleared status and remittance information for invoice and payment reconciliation. The SUA offering is also set to provide self-service tools for enrollment, enabling suppliers to connect to other buyers.

In addition, the SUA service can be used to carry out payments for core business processes, such as eProcurement, B2B travel payments, warranty or insurance claims or other business activities.

In recent news , Chase Card Services, a division of JP Morgan Chase, and global e-commerce company Amazon have launched a new feature on the Amazon.com Rewards Visa Card which provides card members with the ability to use rewards points to pay on Amazon.com.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: JP Morgan, Single-Use Accounts. SUA, e-invoicing, online billing
Categories: Banking & Fintech
Companies:
Countries: World
This article is part of category

Banking & Fintech






Industry Events