6th June 2019 – 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)
- #4 merchant acquirer in Europe (by overall transaction volume)
According to The Nilson Report, J.P. Morgan processes almost 30% of all web transactions in Europe, ranging from multinationals headquartered in Europe and the US to local European businesses with global ambitions. E-commerce in Europe is large and growing and is expected to exceed
€851.03 billion in spend by 2021, 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 US (by purchase volume) by The Nilson Report and #1 merchant acquirer in the US 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