PaymentWorks
Partner product overview
PaymentWorks digital supplier onboarding platform is foundational to the procure-to-pay process. It allows for accurate and efficient collection of vendor information and payment type. It enables customers to protect themselves and transfer the risk against vendor impersonation fraud. The platform continuously digitally enrolls vendors for clients' preferred payment type and creates greater efficiencies around collection and maintenance of vendor master file information.
The solution provides J.P. Morgan clients with increased vendor payables security and ability to leverage PaymentWorks fraud indemnification for domestic ACH fraud payment. J.P. Morgan clients have the ability to redeploy resources by automating manual efforts of suppliers onboarding and management. J.P. Morgan clients may present payment options and terms in preferred order to help drive virtual card adoption, clients realize greater earned rebate revenue from increased virtual card adoption and spend.
Benefits with J.P. Morgan
PaymentWorks and J.P. Morgan have collaborated to bring clients digital vendor onboarding, offering:
- Protection from social engineering / business email compromise / vendor impersonation scams.
- Ongoing digital vendor enrollment to optimize payment modalities (ACH, Virtual Card, etc.).
- Tighter compliance through ongoing sanction monitoring and the verification of vendor identity credentials.
- Efficiency and accuracy around the collection and maintenance of vendor master information in the ERP.
Solution availability
- NAMR
PaymentWorks is the foundation of vendor master data management. With our digital supplier onboarding platform, PaymentWorks provides customers with secure, compliant, and optimized business payments. Featuring the industry’s only guarantee for ACH fraudulent payments, PaymentWorks enables customers to digitize the vendor management process - while helping reduce risk, controlling costs and earning revenue.