Working together with Alipay, J.P. Morgan Merchant Services now powers payments made by US credit cards on Alibaba.com
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’ve reported that nearly 70% of Americans would use retirement savings to pay for child’s college.
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