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J.P. Morgan has appointed Philip Glickman as the head of merchant services for Asia Pacific, leading the regional expansion of the business that supports clients transacting in the e-commerce space.
Glickman will oversee the merchant services strategy, product development and delivery, and report to Sridhar Kanthadai, head of wholesale payments for the region, and Molly Walsh, head of global product for merchant services.
With more than 20 years of experience in global payments and acquiring, Glickman was previously with Mastercard, where he was the head of commercial and digital payments for Asia Pacific. Prior to that, he was with Citibank in Hong Kong as the head of wholesale cards and payments for the region and also spent time in New York with the bank.
J.P. Morgan’s Merchant Services is part of the global bank’s wholesale payments business that moves an average US$6 trillion around the world a day for its corporate clients. The bank processed US$1.5 trillion in merchant payments in 2019 and is the leading US merchant acquirer by volume of transactions and the number one merchant acquirer in Europe by volume of web transactions, the company said in a statement.
The bank's wholesale payments business combines treasury services, trade, commercial card, and merchant services capabilities to help clients pay anyone, in any currency, anywhere in the world. The number one clearer of US dollars by volume, it has capabilities in more than 160 countries, with ability to receive in over 40 currencies and pay out in more than 120 currencies. In Asia Pacific, the bank has direct membership with over 50 clearing systems and serves nearly 1,000 regionally headquartered clients across 14 markets.
Says Kanthadai: “We have seen a rapid acceleration towards digitalization in the payments space and we are focused on providing a full suite of solutions for our clients whether they are e-commerce companies or traditional firms moving their businesses online. Philip has extensive experience in the payments and acquiring space along with deep experience in the region with clients and industry partners. We look forward to his leadership in delivering greater value to our clients.”
