J.P. Morgan Payments is adding the Netherlands-based payments network iDEAL as a new payment method option at the checkout of its global commerce platform, in a move to expand its European e-commerce capabilities.
With the addition of iDEAL, J.P. Morgan Payments will provide an integrated, streamlined experience to meet its clients’ evolving needs and a seamless, familiar and secure way for their Dutch customers to pay directly from their bank accounts when shopping online. Over one billion transactions are processed on iDEAL annually, averaging 3.5 million transactions per day, with peak days exceeding six million.
“The integration of iDEAL into our global Commerce platform is further testament to our ongoing commitment to the European payments markets,” explained Jeroen Kok, head of JP Morgan Payments in the Netherlands. “With over 70 per cent of online purchases done via iDEAL, it is a critical payment method for our regional merchant clients operating in the Netherlands and another step towards enabling our merchant clients to offer their customers the various payment options they want to suit their needs.”
In EMEA, J.P. Morgan Payments processes over $1trillion of payments daily and supports payment solutions for more than 1,500 European clients. Now, it hopes to enable its merchant clients to offer their customers a varied choice of payment options to suit their needs with the integration of iDEAL.
“At iDEAL, we are committed to enabling seamless, secure, and familiar payment experiences for Dutch consumers,” Amos Kater, chief product officer at iDEAL, also added. “Working with J.P. Morgan Payments marks an important step in expanding our reach and ensuring that merchants across Europe can offer their customers the trusted payment method they rely on.”
Expansion plans
The integration of iDEAL comes after J.P Morgan became a principal member of Cartes Bancaires CB in France in 2024, to offer merchant clients access to the French payment network. J.P Morgan also says that it plans to make Klarna’s buy now, pay later (BNPL) payment options available to businesses that rely on J.P. Morgan Payments for payment processing.
The firm has also expanded its strategic relationship with PayPal, with plans for PayPal to expand merchant acquiring to businesses across the UK and European markets by leveraging J.P. Morgan Payments’ commerce platform.
The platform offers merchant clients a single, global, end-to-end platform, which enables them to accept payments across multiple markets, with built-in solutions designed to prevent fraud, reduce costs and boost authorisation rates. With one single application programming interface (API), which provides an integration for all methods of payment, merchants can add multiple payment options without complex technical work, saving time and resources.
