B2B Payments

JPMorgan Links With Boost For Commercial Card Acceptance

commercial card payment

New York-headquartered Boost Payment Solutions is collaborating with J.P. Morgan’s Single-Use Card Accounts (SUA) to offer automated commercial card payments, Boost said in a press release on Wednesday (Nov. 13). 

The strategic collaboration aims to improve cash flow and automate the exchange of remittance data while improving operational efficiency for both buyers and suppliers.

“Through this exciting collaboration, J.P. Morgan commercial card clients and their suppliers can now benefit from automated payment processing and remittance posting,” said J.P. Morgan Head of Commercial Card John Skinner. “Boost’s technology, paired with their supplier enrollment and reporting capabilities, enables our clients to overcome acceptance concerns and grow their card programs.”

Boost is the only FinTech acquirer solely dedicated to B2B payments. It will serve J.P. Morgan’s clients by enabling non-cardable spend to become cardable. Boost Intercept — Boost’s proprietary Straight-Through Processing (STP) platform — converts manually processed virtual cards “into a completely passive acceptance experience for suppliers,” according to the release. 

STP will be used with Boost’s Dynamic Boost platform, “the first and only” payment platform using “rules-based dynamic interchange pricing for commercial card payments.” 

“We’re excited to partner with J.P. Morgan and to offer their portfolio of clients Boost’s peerless product set and processes designed to maximize commercial card acceptance,” Boost Payment Solutions Founder and CEO Dean M. Leavitt said of the collaboration. “We look forward to helping J.P. Morgan customers grow their card programs by capturing incremental spend through Boost’s technology and time-tested supplier enrollment processes.”

Boost announced in September that it was expanding its commercial cards network to new regions around the world, a move the company said would strengthen its international acquirer relationships and broaden the reach of its STP solution, Boost Intercept.

Earlier this year, Boost announced $12 million in new funding led by Mosaik Partners and North Atlantic Capital. The Series B funding was a mix of venture capital and equity debt funding, the company said in April, noting that it planned to deploy the cash toward international expansion.

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