JPMorgan selects Bora for virtual card payment processing
Bora Payment Systems has announced a strategic collaboration with JPMorgan. Bora will provide advanced payment processing technology to automate delivery of the bank’s Single Use Accounts (SUA) payments.
Bora’s patented Payer Direct Hub (PDH) platform delivers straight-through transaction processing and remittance posting of virtual card payments to suppliers that will streamline the accounts receivables process, reducing labour costs and improving cash flow. This enables JPMorgan’s clients to accelerate SUA programme growth by increasing supplier adoption of virtual card payments.