FreedomPay and JP Morgan launch partnership to expand offerings across UK & Europe
FreedomPay, a commerce platform that is used by many merchants across the globe, has announced that they are expanding their commerce offering across the UK, Switzerland, and other parts of Europe through a partnership with JP Morgan.
This partnership would help FreedomPay to provide card offerings and the consumers would also be able to opt for contactless payments which are likely to be a key area of growth in the coming years.
The pandemic and the subsequent lockdown had caused a lot of loss and hardship for merchants with consumers staying away from stores and preferring to get their bare necessities online. But with the pandemic slowly and steadily receding and with vaccines being available, consumers are returning to the stores.
“FreedomPay is excited to expand our relationship with J.P. Morgan to offer greater functionality to millions of shoppers across in-store payments,” said Tony Hammond, SVP of Global Product Delivery at FreedomPay. “Advances in technology and changes in consumer behavior since COVID-19 has led many merchants to rethink their approach to customer experiences and the world of commerce.”
FreedomPay provides a platform for merchants to unify their payments across several channels and also helps to collate all the user data in a single place. This can then be used for payment processing and reconciliation and increases convenience for the merchants.
The consumers would also be able to make touchless payments and build an ecosystem that would enable the entire process to be contactless but at the same time, ensure security and reliability so that the consumers can get peace of mind while making in-store purchases.
“Our work with FreedomPay will support us in offering an in-store payment option to build upon our established eCommerce processing capabilities,” said Basil Bailey, Head of Product for EMEA Merchant Services at J.P. Morgan. “Streamlining merchants’ operations will help save them costs, time and drive growth.”
The payments industry is expected to grow several times over the next few years as people opt for more online as well as contactless purchases. It is important for the industry to stay abreast as far as technology and partnerships are concerned. The security of the transactions would also become a key issue going forward as many consumers continue to be fazed by online transactions and are hence expected to be gullible.
The security and chargeback mechanisms need to be fool-proof for the consumers to gain confidence in contactless and digital payments and partnerships like these are likely to be the way forward.
