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Friday, February 14, 2025
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J.P. Morgan Becomes Principal Member of Cartes Bancaires CB, France’s Leading Payment Network

J.P. Morgan announced today that it has been granted approval to become a principal member of France’s leading payments network, Cartes Bancaires CB, with the intention to offer merchant clients access to the French payment network by the end of 2024.

J.P. Morgan was granted the license to become the first U.S. bank to be a principal member of Cartes Bancaires CB on 15 February 2024.

Cartes Bancaires CB is the leading payment system in France with 15 billion CB transactions per year by card or mobile phone. J.P. Morgan intends to offer merchant clients acquiring services of Cartes Bancaires CB payment transactions by the end of 2024, which aims to provide competitive transaction costs and leading local processing performance for French debit and credit card transactions. The Cartes Bancaires CB network ultimately aims to provide customers with a seamless and safe shopping experience.

Ludovic Houri, co-Head of EMEA Payments & Commerce Solutions, J.P. Morgan said, “Our North Star is to enable our merchant clients to offer their customers a varied choice of payment options to suit their needs. Membership of Cartes Bancaires CB will help us take this to a whole new level in Europe and France in particular. It is also a huge honour to become a principal member of Cartes Bancaires CB. We are excited to participate in the strategic direction of the scheme by supporting its continued expansion and development, helping maintain its long history of providing secure and efficient payments to its users.”

Shahrokh Moinian, Head of EMEA Payments, J.P. Morgan said, “This is a testament to our unwavering commitment to the European and French payments markets. Our EMEA franchise has gone from strength to strength in recent years, and this is a major milestone in our growth journey and wider ambition to become Europe’s leading payments provider. The European payments landscape is rapidly evolving and our principal membership positions us perfectly to provide future innovations and efficiencies to our clients.”

J.P. Morgan’s EMEA Payments business now processes over $1 trillion of payments daily, and supports merchant acquiring to over 1,500 active European clients. Globally, J.P. Morgan Payments is market-leading, processing nearly $10 trillion in payments daily, operating in over 160 countries and over 120 currencies. J.P. Morgan Payments combines treasury services, trade & working capital, card and merchant services capabilities to help clients pay customers or employees, in different currencies, around the world.

Philippe Laulanie, CEO of Cartes Bancaires CB, said, “We are proud that J.P. Morgan has chosen to join CB, the leading domestic card and mobile payment network in France. CB and J.P. Morgan share the same values, those that have made our respective organisations successful: the values of economic efficiency, innovation, inclusion and security. The road that now opens before us will lead us to numerous projects, which will bring real added value to the entire CB community.”

J.P. Morgan has a long history in France, currently employing approximately 900 people – and that number continues to grow. Many of the firm’s lines of business have a presence in France, including being home to its continental European trading hub in Paris and an expanding commercial banking business.

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