Strong market growth fuels rise to #4 merchant acquirer position overall in Europe
J.P. Morgan’s focus and investment in global e-commerce payments is paying off with top rankings from The Nilson Report, the independent payments industry source:
|#1 e-commerce provider in Europe (by web transaction volume)1|
|#4 merchant acquirer in Europe (by overall transaction volume)2|
According to The Nilson Report, J.P. Morgan processes almost 30% of all web transactions in Europe,3 ranging from multinationals headquartered in Europe and the U.S. to local European businesses with global ambitions. E-commerce in Europe is large and growing and is expected to exceed EURO 851.03 billion in spend by 2021,4 according to Edgar, Dunn & Company.
“E-commerce has created a seismic shift in the way consumers shop and pay for their purchases and this trend is evidenced by our growth from the sixth to the fourth largest merchant acquirer in Europe,” said Catherine Moore, President of Europe for J.P. Morgan Merchant Services. “As a pure-play e-commerce acquirer in Europe, we help merchants optimise their overall cost of payments and maximise business profitability.”
E-commerce merchants are not only benefitting from significant growth in Europe, but also dealing with complexities of compliance with the European Union’s Second Payment Services Directive (PSD2) and Strong Customer Authentication (SCA) coming into force this September.
“The key is finding the right balance between protecting the consumer and providing a seamless payments experience that helps merchants drive down fraud levels,” Moore said. “We are PSD2-ready and collaborating closely with all industry stakeholders to help make this game-changing directive a success both for the industry and consumers.”
J.P. Morgan was also recently named the #1 merchant acquirer in the U.S.5 (by purchase volume) by The Nilson Report and #1 merchant acquirer in the U.S.6 by The Strawhecker Group in 2019.
Learn more about J.P. Morgan’s global payments offerings, PSD2/SCA or request a consultation by visiting https://www.jpmorgan.com/europe/merchant-services.
About J.P. Morgan
J.P. Morgan offers a full suite of payments services to enable a seamless connection across the payments continuum for clients. We bring our consultative expertise, data-driven insights, and local service around the globe to provide a more unified view of payables, receivables and cash management. Merchant Services is the payment acceptance and merchant acquiring business of JPMorgan Chase & Co. (JPM) – a global financial services firm with assets of $2.6 trillion and operations worldwide.7 According to The Nilson Report, it is also the top merchant acquirer of e-commerce transactions in Europe.8
|1 The Nilson Report #1153, May 2019|
|2 The Nilson Report #1153, May 2019|
|3 The Nilson Report #1153, May 2019|
|4 Global Payments Depository, Edgar, Dunn & Company, 2018|
|5 The Nilson Report #1149, March 2019|
|6 Directory of U.S. Merchant Acquirers (TSG Top 300), The Strawhecker Group, March 2019|
|7 JPMorgan Chase & Co. Q4 2018 Earnings Report 2018|
|8 The Nilson Report #1153, May 2019|