PaymentNet was developed by JP Morgan to provide credit for businesses founded at university. They help individuals or groups of entrepreneurs invest in their business by providing the resources they need at the beginning of their journey. See how it works!
How does JPM PaymentNet work?
There are two types of credit cards within JP Morgan’s PaymentNet, they are:
- PCard: Purchasing Card for Staff;
- SPCard: Student Program Card for Staff.
These cards are issued by the university through JP Morgan bank and are used for businesses developed during the university. If you are part of a group of entrepreneurs who have a business idea or an active company, you can get a PCard or SPCard.
Regardless of the type of card, every purchase or transaction you make with the card, you must review and manage it through the online payment system called PaymentNet.
So all staff members need to create an online account on this system to make their purchases, avoid fraud, and justify the business purpose of each card purchase.
How to create a JP Morgan PaymentNet account?
First, you will need to access the JP Morgan website. To access PaymentNet, go to: www.paymentnet.jpmorgan.com. The next step is to click on “Create your J.P. Morgan Commercial Card Online Account”. You will then need to provide the following information:
- J.P. Morgan Commercial Card Number;
- Last 4 Digits of Access Code 1;
- Next create your user ID;
- And then, create your password.
Once you have created your account, you can access your account by filling in your credentials on the home page.
JP Morgan’s PaymentNet account
This is the screen you will see when you log into your PaymentNet account. You can see some summaries on the home screen, such as items that depend on your action, alerts, transactions, and more.
Also, from the main menu you can view transactions, statements, reports, find information about your account and more.
Checking transactions in your PaymentNet account
You can review all your transactions by checking the “transactions” report. When you click on a purchase, you can see the amount, which company made the charge, the date, etc.
If everything is correct, you can add your notes on the right side of the review screen and justify the reason for that transaction. For example, you can provide information such as:
- Who is this for?
- What items were purchased?
- Why were the items purchased?
- Is it a recurring charge or was it a specific purchase?
This information helps you keep track of your purchases and focus on the business. After adding your notes, you can click “Save” and go to the next transaction.
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