JPMorgan launches payment solution for sellers on Walmart Marketplace

JPMorgan Chase is teaming up with Walmart to offer an “embedded finance solution” for third-party sellers on Walmart Marketplace.

The solution allows sellers to “accept, manage, and send funds” through a single provider and without leaving the platform, Lia Cao, head of embedded finance and solutions at JPMorgan Payments, said in a statement.

In lieu of this kind of solution, customers are typically referred to a third-party service provider for each transaction, which essentially disentangles payments from other business functions such as managing cash flow and onboarding clients.

• The upside is a fully integrated and more seamless payments platform.
• In the case of Macy’s, which also adopted JPMorgan’s embedded solution for its marketplace, the department store chain can now pay sellers on a weekly basis rather than biweekly or monthly.
• “Many small businesses operate with low cash reserves and buffers, so these organizations benefit when they can receive payments more quickly,” the bank wrote in a blog post.

In March 2024, JPMorgan introduced an enhanced suite of embedded finance solutions to provide clients with a broader spectrum of payment capabilities to grow their ecosystem to meet growing customer demand for more control and customization.

Now with the launch on Walmart Marketplace, the solution is reaching one of the fastest growing e-commerce platforms in the world.

• Walmart US Marketplace revenue jumped 37% over the last year, and has been growing rapidly over the last few years.

“Our embedded finance capabilities transform transactions and payments, seamlessly blending innovation with trust, resilience, security, and scale,” Cao said.

Tearsheet’s The Big Bank Theory Awards 2024 recognized JPMorgan’s solution as the best overall embedded finance platform.