JPMorgan Expands Embedded Payments Solutions Across Industries

Discover how JPMorgan is revolutionizing embedded payments software for corporate clients in various sectors.

JPMorgan Chase, the largest bank in the United States, has been making significant strides in the embedded payments sector over the past four years. According to Lia Cao, the global head of embedded finance and solutions at JPMorgan, the bank has focused on industries such as healthcare, autos, and e-commerce marketplaces, but is now looking to expand into other sectors.

The bank has taken a hybrid approach to developing its embedded payments business, combining in-house development with strategic acquisitions. In fact, JPMorgan has already made an acquisition in the healthcare embedded payments space and is eyeing opportunities in industries such as insurance, energy (specifically oil and gas), and consumer retail.

With its embedded payments software products and services, JPMorgan is enabling its corporate clients to integrate payments capabilities directly into their systems, allowing them to offer seamless payments services to their customers. This move was driven by a growing demand from JPMorgan's corporate clients, who were looking to digitize their customer experiences and move away from traditional paper-based systems.

For example, in the healthcare sector, JPMorgan's clients were increasingly seeking to modernize their payment processes, prompting the bank to acquire Instamed in 2019. In the auto industry, JPMorgan partnered with Volkswagen to help the automaker develop a mobile payments solution.

JPMorgan Chase's foray into embedded payments is driven by a commitment to meeting the evolving needs of its corporate clients across various industries. By offering innovative payments solutions, the bank is positioning itself as a leader in the rapidly growing embedded finance space.