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Chase hopes to increase its share of the global treasury services market by almost 50 per cent in the “next few years” by merging its business-to-business treasury services unit with its consumer-to-business merchant services division. The bet is that the streamlined offering gives Chase an edge over Apple Pay, PayPal and Stripe.
One of JPMorgan’s least high-profile businesses, treasury services nonetheless finds favour with investors, who see it as a “high return business” and would support its growth, according to Brian Kleinhanzl, analyst at KBW. “The question is how much can JPMorgan grow in that space, and how much investment is needed,” he added. The organic growth plans are a departure from JPMorgan’s outlook two years ago, when it weighed a $10bn bid for the payments giant Worldpay. Mr Georgakopolous said there were lots of hurdles to doing big mergers and acquisitions deals, and that the bank was more focused on smaller acquisitions such as its $300m takeover of the payments fintech WePay in 2017.
https://www.ft.com/content/656779ec-258f-11e9-b329-c7e6ceb5ffdf
