Payhawk, a leading global spend management platform, has partnered with J.P. Morgan Payments, a global leader in payment solutions, to enhance its payment services for enterprise customers in the UK. This strategic collaboration reinforces Payhawk’s position as an innovative financial institution and showcases both companies’ commitment to advancing payment technology.
As a licensed Electronic Money Institution (EMI) in the UK, Payhawk gains greater control over its payment infrastructure and improved access to payment networks. This partnership will enable Payhawk to enhance its payment offerings, providing superior service and flexibility to its customers.
Through J.P. Morgan Payments’ API, Payhawk will gain access to multiple banking services, including multi-currency bank accounts, fund safeguarding, and domestic payment processing. Previously, these services were facilitated by intermediary Banking-as-a-Service (BaaS) providers that required reliance on third parties.
“Expanding our strategic focus on mid-sized and enterprise clients in traditional industries demands exceptional trust and standards from our banking partners. Collaborating with J.P. Morgan, a globally respected financial institution, is precisely what we need,” said Hristo Borisov, CEO and Co-founder of Payhawk. “J.P. Morgan’s global reach and extensive currency support empower us to deliver innovative payment features for our multinational clients.”
“At J.P. Morgan Payments, we have a proven history of supporting innovation for institutional clients globally,” said Jason Clinton, Head of Europe Financial Institutions Group and Global Head of Non-Bank Financial Institutions at J.P. Morgan Payments. “Our collaboration will offer Payhawk enhanced access to payment networks, ensuring seamless and efficient payment experiences for their customers worldwide.”
Payhawk is set to introduce new features in the coming months, allowing customers to store, exchange, and send funds in over 30 currencies directly through its platform. Users will benefit from simplified currency exchanges and cost-effective international transfers via the Payhawk wallet.
This partnership adds to Payhawk’s recent achievements, including securing its UK EMI license and joining Visa and SWIFT. These milestones underline its growing status as a significant global financial service provider.
J.P. Morgan Payments, recognized as a leader in USD payment volume, supports clients worldwide with its extensive payment services. Handling nearly $10 trillion in daily transactions and operating in over 160 countries with 120+ currencies, it continues to be a cornerstone for businesses navigating complex global payment needs.
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