Established in 2004, ISG supports 17 billion transactions for their clients annually via its proprietary GeniusTM Payments-as-a-Service (PaaS) platform, which provides stack and scalable capabilities that intend to simplify the payment collection process. J.P. Morgan comes on board as the first strategic investor in the company, with a view to unlock opportunities in payments offerings across Asia Pacific (APAC).
Through this partnership, J.P. Morgan wants to accelerate the ability to capture additional payment methods in APAC, a region that accounts for the company’s largest retail ecommerce sales globally. The bank recently announced it was expanding its merchant acquiring capabilities in APAC and will be live in seven markets by the end of the year.
ISG’s PaaS platform intends to be secure, scalable and, easy to integrate. It can offer connectivity with various payment methods, on-time settlements, and quick reconciliation. As company representants said, ISG has been a trusted partner to banks in India for the past two decades and the strategic partnership with J.P. Morgan is showcasing their capabilities and potential to create products for global markets.
The partnership is important for their next phase of growth, as they continue to invest in strengthening their products and expand in international markets. ISG wants to provide robust digital payment solutions to clients and partners.
The company had a productive month this December, especially when it comes to partnerships. Most recently Trovata and J.P. Morgan Asset Management partnered to help joint customers tap into the latter’s Money’s services to access higher yields on corporate investing.
Trovata will host the Morgan Money corporate investing and trading solution as the first third-party app on its platform. Joint customers can determine their liquidity needs using Trovata, then take action to invest using the services offered by Morgan Money. Users will have the ability to transact across their global portfolio in real time and compare funds across multiple managers, currencies, durations, or settlement options. In addition, investment balances and transactions from Morgan Money will flow into Trovata in real time so that operating and investing activities can be monitored and managed in one place, delivering a unified experience for managing operating cash flows and investments.
Previously, UAE-based Al Fardan Exchange joined hands with J.P. Morgan to offer transfers in multiple currencies to corporate customers. The two companies will work to facilitate a same-day money transfer facility for UAE’s corporate customers. As a result, customers of Al Fardan Exchange will have access to currencies in multiple currencies such as the US Dollar, Sterling Pounds, Euros, South African Rands, and others.
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