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Finance & Economics

J.P. Morgan is now processing US credit cards on Alibaba.com

Sep 20, 2021

Working together with Alipay, J.P. Morgan Merchant Services now powers payments made by US credit cards on Alibaba.com

J.P. Morgan

J.P. Morgan is now processing US credit cards on Alibaba.com. Source: pexels.com

J.P. Morgan has announced it went live with credit card payments processing for Alibaba.com, the B2B business unit of Alibaba Group.

According to the press release, the rise of marketplaces is one of the biggest trends in e-commerce, accounting for almost half of all online purchases in 2020, with online sales hitting more than $4.2 trillion globally in 2020.

Due to the growth of e-commerce, small and micro businesses need a fast, easy and safe way to seamlessly accept payments from customers across different payment methods and channels.

With the payments processing capabilities from J.P. Morgan, Alipay can now provide improved card payment services in the US for Alibaba.com Trade Assurance—the free payment and order protection service for all on-platform transactions.

We welcome J.P. Morgan as a new partner in our ecosystem and ally in our mission to make it easier for U.S. small businesses to do business anywhere. These payment facilitation services will help Alibaba.com’s U.S. small business customers further digitize their businesses with ease and peace of mind in order to take full and long-term advantage of the multi-trillion dollar global B2B e-commerce opportunity. With Super September, our annual month-long sales period, in full swing, there has never been a better time for U.S. businesses to look at how they can use Alibaba.com to worry less, do business more efficiently, and grow
John Caplan, President of North America and Europe of Alibaba.com

We’ve reported that nearly 70% of Americans would use retirement savings to pay for child’s college.

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