JP Morgan throws weight behind Indian business payments fintech

JP Morgan has taken a stake in Indian business payments fintech, Global PayEx. The firm specialises in the Electronics Invoice Presentment & Payment (EIPP) and business-to-business (B2B) payments space.

Sridhar Kanthadai, Head of Wholesale Payments for Asia Pacific at JP Morgan, said, "We continue to invest in innovation to help our clients optimise and simplify their payment operations."

The mega bank's support substantially extends Global PayEx's footprint across Asia, moving forward plans to expanding into Europe and the US, says CEO Brij Sharma. Its cloud-based platform – Freepay – facilitates the electronic sharing of invoices, handling of payments and comprehensive management of transaction information between B2B buyers and sellers.