JPMorgan Chase, ACI to offer multichannel payments in Europe

As stores that went online-only start to reopen their physical locations, JPMorgan Chase is looking to bolster its position among European merchants by adding software from ACI Worldwide that's designed to support payments across multiple channels.

The bank, which is among the largest European merchant acquirers for web payments, will use ACI's cloud-hosted technology to add in-store payments that have a similar experience to mobile apps or web shopping. The collaboration also includes a pre-certified onboarding service.

The companies say the collaboration is a way to consolidate merchant services and different payment rails as merchants emerge from pandemic lockdowns.

Many businesses migrated to a totally online model as their stores were closed, and JPMorgan Chase and ACI are betting on demand from stores that want to add more payment technology to their brick-and-mortar locations.

ACI in the past year has added to its software suite through partnership with Mastercard that's designed to reduce onboarding time and add support for the ISO 20022 global messaging standard, which supports the use of AI for payments, as well as real-time processing.