How to simplify financial operations with the J.P. Morgan® Direct Payment API
What are the benefits?
The J.P. Morgan® Direct Payment API is designed to make your payments easier, faster, and more transparent than ever. Here's what this feature offers:
Payment Management in One Place: Review invoices, payment details, and approve payments directly on Carta without the need to log into your bank portal.
Fast Payment Processing: Say goodbye to waiting in manual payment queues and dealing with wire expiration in your bank portal. Enjoy a quicker payment turnaround with a direct API integration, with payments typically processed within 1 hour.
Real-Time Payment Tracking: Keep tabs on your payments with full visibility into their progress, the most recent status, and an estimate of when they'll be completed, all accessible through your Carta Dashboard.
Simple Setup: Get started quickly by signing the J.P. Morgan® Third-Party Agreement (TPA). No additional KYC or ACH Debit Block setup required. Reach out to your Carta Fund Admin team to start the TPA process.
Comparison: J.P. Morgan® Direct Payment API vs. Bank-Agnostic Automated Money Movement (AMM)
Feature | J.P. Morgan® Direct Payment API | Bank-Agnostic AMM |
Processing Time | 1 hour | Same day/Next day |
Setup Requirements | TPA signature only | KYC + ACH debit block setup |
Bank Compatibility | J.P. Morgan® only | All banks |
Intermediary Bank | None | Column, N.A. |
Which use cases are supported by the J.P. Morgan® Direct Payment API?
Today, AMM via the J.P. Morgan® Direct Payment API supports the following use cases, allowing users to approve payments directly in Carta with faster processing times and real-time status updates:
Expenses: Payments for vendor invoices and employee reimbursements.
Management fees: Fee transfers from fund entities to the management company.
Intercompany transfers: Transfers between entities within the same firm to settle intercompany balances.
How does the J.P. Morgan® Direct Payment API work?
Once you approve a payment in Carta, with the J.P. Morgan® Direct Payment API, the payment will be sent from your J.P. Morgan® bank account to the destination - no need to separately approve or track in the bank portal. This direct integration eliminates the need for intermediary banking partners, resulting in faster processing times and enhanced security.
Payments typically complete within 1 hour when submitted before 5:30pm Eastern, with real-time status updates available through your Carta dashboard.
How can I set up the J.P. Morgan® Direct Payment API?
Sign the J.P. Morgan® Third Party Agreement (TPA)
Confirm your interest by responding to the email from Carta about the J.P. Morgan® agreement, or contact your Fund Admin team. Your written confirmation is needed to proceed with turning on the API.
Once confirmed, the authorized signer on the bank account at your firm will receive a DocuSign request directly from J.P. Morgan®, which will include a Third Party Access (TPA) document and accompanying Letter of Authorization.
Review and electronically sign the agreement. This authorizes Carta to initiate payments on your behalf through J.P. Morgan®'s API.
Check payment permissions
Check that the appropriate people at your firm are granted payment approval permissions. You can update this at any time under Firm Settings in your GP Portal. Here’s a more detailed guide.