J.P. Morgan Payments has partnered with identity platform Trulioo to enable global identity verification services and support a more simplified payment experience.

Through this collaboration, J.P. Morgan Payments selected Trulioo’s global identity platform to help its clients eliminate fraudulent activities and other financial crimes. The agreement allows J.P.

Morgan Payments to leverage Trulioo’s services for global person and business verification to support a simplified payment experience worldwide. The partnership’s objective According to officials, J.P. Morgan Payments chose Trulioo’s platform due to its personally identifiable data sources, match rates, and global footprint.

With Trulioo’s solutions, J.P. Morgan Payments aims to provide its clients with additional layers of protection from fraud during and after the onboarding process. J.P.

Morgan’s Trust and Safety solutions validate users’ accounts and increase their defence for end-to-end payments, with clients being protected against fraud, improper payments, and cybercrimes that are on the rise considering the current payment landscape. Moreover, representatives from J.P. Morgan Payments stated that the partnership with Trulioo aims to enable their clients to mitigate fraud with a specialised focus on simplifying consumer and business verification. The company confirmed that it plans to expand its collaboration with Trulioo, as it represents a significant addition to its ecosystem of payments partnerships.

By leveraging Trulioo’s knowledge of global payments and trust and safety models, J.P. Morgan aims to enhance its payment services by offering features for consumer and business verification, including Trulioo’s Person Match and Identity Document Verification. Trulioo intends to support the onboarding of J.P. Morgan’s merchants and consumers with its configurable capabilities and flexible deployment options.

Considering that the company merges KYB and KYC in one platform and has access to government registries, public records, data sources, and document types, Trulioo can verify individuals and businesses globally, aiming to eliminate fraudsters and help J.P. Morgan clients adhere to security standards, regardless of their location. Recent developments from J.P.

Morgan Payments As part of its development strategy, J.P. Morgan Payments partnered with Network International at the beginning of September 2023 to improve the bank’s acquiring offering in the Middle East. By having access to Network International’s acceptance solutions and expertise in card processing and services in the region, J.P.

Morgan Payments aimed to expand and complement its payment proposition to its customers. Moreover, at the end of August 2023, J.P. Morgan Payments announced the launch of Tap-to-Pay on iPhone for US merchant clients to accept in-person, contactless payments. Through this solution, merchants can accept contactless payments using their iPhones, without requiring a dedicated payment card reader or additional hardware.

More information about Trulioo As a global identity verification platform, Trulioo aims to support the global expansion of organisations by helping them navigate the issues of compliance and providing real-time verification of more than 5 billion people and 700 million business entities worldwide. At the end of August 2023, the company deployed additional Workflow Studio capabilities to accelerate person matching globally. Through this, Trulioo aimed to eliminate the need for redundant, complex multivendor verification systems, allowing organisations to conveniently onboard customers.

.