J.P. Morgan processes 30% of online transactions in Europe
J.P. Morgan was named the number one e-commerce acquirer, by web transaction volume, in Europe, Ecommerce News reports. When the overall transaction volume is taken into account, the financial services provider happens to be the fourth largest merchant acquirer in Europe.
This is shown by the Nilson Report, which brings news and statistics about the card and mobile payments industry. According to J.P. Morgan, the strong market growth has fueled its growth from the sixth to the fourth largest merchant acquirer in Europe.
According to the Nilson Report, J.P. Morgan processes almost 30% of all online transactions in Europe. These cover transactions from multinationals headquartered in Europe and the US, but also from local European businesses with global ambitions.
Ecommerce in Europe is expected to exceed 851 billion euros in spending by 2021, a study by Edgar, Dunn & Company shows. Online merchants do not only benefit from this significant growth in Europe, but they also have to deal with the PSD2 and Strong Customer Authentication (SCA) that are coming into force on the 14th of September.
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