Table of Contents
BENTONVILLE, Ark. – Walmart has partnered with JPMorgan Chase to enhance payment processing for merchants on its online marketplace, Reuters reported on Monday. The collaboration aims to streamline sellers' transactions and improve cash flow management using JPMorgan’s financial technology.
The retail giant’s marketplace hosts over 100,000 sellers and offers over 700 million products, spanning beauty, apparel, home goods, and electronics. In the fourth quarter of 2024, Walmart reported a 40% surge in marketplace sales, underscoring the platform’s rapid expansion.
Embedded finance solutions, such as those provided by JPMorgan in this partnership, have gained traction as businesses seek integrated financial services to optimize transactions. According to a McKinsey report, more than $2 trillion in transaction volume is expected to migrate to marketplace platforms, shifting away from traditional retail and reselling models.
According to Lia Cao, JPMorgan’s Head of Embedded Finance and Solutions, the partnership represents a significant growth opportunity. The bank currently collaborates with over 20 clients in embedded finance and anticipates doubling that number in the coming year.
Cao added that while the partnership is initially limited to U.S.-based merchants, discussions are underway to extend the service to Europe and other regions.
