J.P. Morgan invests in Indian fintech to improve ease of B2B payments
Published: May 13, 2019
Mumbai – Global PayEx, a fast-growing player in the Electronic Invoice Presentment & Payment (EIPP) and business-to-business (B2B) payments space based in India, today announced a strategic investment by J.P. Morgan. Global PayEx offers Freepay – a cloud-based platform that facilitates the electronic sharing of invoices, handling of payments and comprehensive management of transaction information between B2B buyers and sellers.
The investment will help J.P. Morgan’s clients experience clearer electronic invoice presentation and quicker reconciliation. The Freepay platform is fully-automated and self-servicing, delivering immediate cost and time savings. Its real-time feature and sophisticated analytics function provide corporates with full visibility of their payment status as well as insights on their receivables collection, which can in turn help optimize working capital.
“At J.P. Morgan, we are committed to providing market-leading digital capabilities across our products and services. Our strategic investment in Global PayEx is a significant step towards working with our clients in a more nimble way and enhancing their experience at every interaction. This partnership will provide complementary solutions to our existing suite of financial services and help clients build a robust digital payment ecosystem,” said Kalpana Morparia, Chairman of South and Southeast Asia, J.P. Morgan.