Conferma and J.P. Morgan Payments to expand virtual card capabilities in Europe

Conferma's expanded integration of its membership in the J.P. Morgan Payments Partner Network enables EU-based businesses to issue and manage virtual cards optimally, unlocking multi-currency capabilities and offering augmented flexibility to modernise payments across the region.  

As demand for faster and more secure payment solutions increases, the adoption of virtual cards is accelerating rapidly, with 88% of businesses currently using or considering them. J. P. Morgan Payments’ virtual card services offer companies in the EU the opportunity to access virtual card services and benefit from payment capabilities, optimising cash flow, and improving security.   

Potential benefits for businesses

Businesses can benefit from: 

• Expanded payment abilities– corporates can issue virtual cards, eliminating international barriers and offering businesses more global agility; 

• Multi-currency efficiency – virtual cards enable payment in local currencies, reducing FX costs and improving payment efficiency; 

• Optimal integration – Conferma’s API technology integrates directly with ERP, procurement, and expense management platforms, ensuring augmented adoption; 

• Stronger financial oversight – businesses gain more visibility, control, and fraud protection, optimising compliance and security.  

By partnering, the two companies aim to transform industries with high-volume, cross-border transactions, including corporate travel, procurement, and finance. J. P. Morgan Payments’ extensive suite of payment solutions and its third-party relationships seek to help clients build, implement, expand, and optimise payment strategies tailored to their business needs.  

This collaboration follows recent updates from the European virtual card market, which is projected to grow at over 20% CAGR from 2022 to 2027, driven by the shift toward digital and contactless payments. Virtual card solutions also optimise B2B payments across the entire process. Automating B2B payment flows with virtual cards can reduce manual work and processing costs by up to 70%, driving significant operational savings for businesses.  

J.P. Morgan Payments' virtual card features are now accessible for eligible Conferma European corporates.