TSYS, Chase team up on Virtual B2B Payments

Friday 9 February 2018 10:55 CET | News

TSYS has announced that JPMorgan will offer the company’s Virtual Payment PresceptSM, a commercial card payable service, to corporations.

According to TSYS, the Virtual Payment PresceptSM solution enables corporations to generate secure, virtual, single-use account information — and in real time. The deal will enable JPMorgan to broaden its virtual card solution through issuance on both Visa and Mastercard networks.

The Virtual Payment PresceptSM solution reduces risk and makes it easier for both accounts payable and receivable to reconcile transactions, claims the company. Virtual cards are able to replace main account numbers on physical cards, thus increasing security and providing a fraud-proof method of paying suppliers. Users can also place limits on how each virtual account number can be used when making purchases.

The collaboration with JPMorgan comes on the heels of a December agreement to acquire payment solutions provider Cayan in a USD 1.05 billion all-cash deal. The deal is expected to promote modest additions to TSYS’ net revenue growth and adjusted diluted earnings per share (EPS) in the first full year after closing.

Cayan, a portfolio company of Parthenon Capital Partners, provides technology services to more than 70,000 merchants and more than 100 integrated partners in the US.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: TSYS, Virtual B2B Payments, JPMorgan, eInvoicing, supply chain finance, cards
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech

Industry Events