Home Technology JP Morgan picks stake in Global Pay-Ex

JP Morgan picks stake in Global Pay-Ex

JP Morgan picks stake in Global Pay-Ex

JP Morgan has picked up a minority stake in Global PayEx, a provider of electronic invoice presentment and payment (EIPP) and B2B payments space. The latter claimed that this investment by the global banking and financial services provider will help its clients experience clearer electronic invoice presentation and quicker reconciliation.

Global PayEx’s Freepay is a cloud-based platform that facilitates electronic sharing of invoices, handling of payments and management of transaction information between B2B buyers and sellers. This self-servicing platform has a real-time feature and sophisticated analytics function that provides full visibility of the payment status and insights on the receivables collection to the corporates, which can help optimize working capital.

This marks JPMorgan’s first equity investment in a homegrown fintech company. It stated that this is part of its broader plan to build comprehensive payments support and supply-chain finance management infrastructure for their India-based corporate client-base. Sridhar Kanthadai, head of wholesale payments for Asia Pacific at JP Morgan, said, “This investment is an example of our commitment to address our clients’ specific concerns in the B2B payments space, which continues to grow at an exponential pace.”

The bank said that these solutions can help corporates adopt electronic-based interoperable payment solutions, like NEFT, RTGS and IMPS as it would rid these companies the additional effort and cost on processing trade finance payments in India.




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