Payhawk, a spend management solution, announced it selected JP Morgan Payments, to improve its payment services for enterprise customers in the UK. Payhawk notes that has worked closely with JP Morgan Payments to enhance its global payment services for enterprise clients. Payhawk expects to enable customers soon to store, exchange, and send money in “30+ currencies within the platform.”
With this collab, Payhawk, which holds EMI license status in the UK, is set to have greater control of its payment stack and “better access to payment networks, giving the company the ability to enhance its payment offering for customers.”
Payhawk will also gain banking services via the JPM API, including access to bank accounts in various currencies and the safeguarding of funds and payment rails.
These services were previously provided via intermediary BaaS providers with a reliance on third parties.
Hristo Borisov, CEO and Co-founder of Payhawk, said that their strategic focus on mid-size and enterprise customers “across traditional industries requires the highest standards and trust in our banking partners.”
Borisov also mentioned that working with J.P. Morgan, one of the most highly regarded and trustworthy banking institutions in the world, “represents everything we need in a banking partner. Its global footprint and depth of currencies enables them to deliver more features that make payments even more convenient for our multinational enterprise customers.”
Jason Clinton, Head of Europe Financial Institutions Group and Global Head of Non-Bank Financial Institutions at J.P. Morgan Payments, said that they have a strong track record of powering “innovation for institutional clients at a global level.”
