J.P. Morgan Payments Processes Record Number of Transactions in Europe

J.P. Morgan Payments processed a record number of card-not-present transactions in Europe on both Black Friday (Nov. 24) and Cyber Monday (Nov. 27).

The firm processed 18.2 million transactions on Black Friday and 19.6 million on Cyber Monday, Ludovic Houri, co-head of EMEA Payments & Commerce Solutions at J.P. Morgan, said in a Friday (Dec. 8) post on LinkedIn.

Compared to the same days in 2022, those totals were 7% higher and 17% higher, respectively, according to the post.

“It is exciting to see the power and resilience of our commerce solutions, which provides our merchants with an easy and seamless experience,” Houri said in the post.

J.P. Morgan Payments processes nearly $10 million in payments each day, operating in more than 160 countries and over 120 currencies.

The firm also offers treasury services; trade and working capital; card and merchant services capabilities to help its clients pay customers or employees, in different currencies, around the world.

In 2022, J.P. Morgan Payments was ranked No. 1 among merchant acquirers in Europe by web-based transactions in The Nilson Report. The firm processed almost 5.5 billion online transactions on behalf of clients in 2021.

“We’re committed to helping Europe’s eCommerce players continue to redefine what is possible — new customer experiences, new business models, new ways to unlock value,” Shahrokh Moinian, EMEA head of payments at J.P. Morgan, said when announcing that ranking. “These latest results demonstrate their continued trust in our ability to meet their evolving needs.”

Globally, in 2022, J.P. Morgan Payments’ merchant acquiring business settled more than $2 trillion — the most the business has settled through its platforms in a single year.

In reaching that milestone, the merchant-acquiring business processed nearly 350 million transactions a day, with highs of more than 5,000 per second during peak times.

“This is an important milestone for our franchise, and a testament to the capabilities of our platforms — all made possible by the great care and expertise of our Payments Acquiring team members who sell, engineer and operate them all day, every day,” Max Neukirchen, head of payments and commerce solutions at J.P. Morgan Payments, said in a December 2022 post on LinkedIn. “This wouldn’t have happened without them, and our clients who trust us with their business.”