Reportedly, J.P. Morgan (JPM) has secured the top spot in the Nilson Report’s European ranking of merchant acquirers for the sixth year in Europe by web-based transactions.
As per the report, the 45 largest acquirers handled over 22 billion web-based transactions with a value of over $1 trillion last year. The bank has processed more than five billion online transactions on behalf of clients in 2020, with a market share of 23.4%. J.P. Morgan also maintained its position as the top U.S. processor of retail and e-commerce transactions. Amid a change in consumer behavior merchants are turning to J.P. Morgan to help respond and streamline their business processes.
Basil Bailey, Head of Product for EMEA Merchant Services stated, “As many of our retail clients on the European high street begin to emerge after managing the challenges of a global pandemic, we will be in a position to support them as they navigate the post-lockdown era,” He added: “While e-commerce has clearly accelerated during the last year, we’re also seeing that consumers are keen to return to physical stores. Streamlining merchants’ operations during this readjustment period by offering them an in-store payment option alongside our established e-commerce processing platform will enable them to save time, costs and ultimately focus on growth.”
JPMorgan Chase & Co (JPM) is a global financial service leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and commercial banking. To learn more about JPMorgan Chase & Co. (JPM) and to continue to track its progress please visit the Vista Partners JPMorgan Chase & Co. Coverage Page.
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