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News by FinTech Collective Archive

J.P. Morgan to Buy Payments Firm WePay in First Major Fintech Acquisition

Gareth Jones

October 20, 2017

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Gareth Jones

Chase has agreed to buy payments company WePay in the bank’s first sizable acquisition of a financial-technology startup.

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The banking giant plans to roll out WePay’s technology to J.P. Morgan’s four million small-business customers, said Matt Kane, CEO of Chase Merchant Services. WePay, which has roughly 200 employees, helps online marketplaces and crowdfunding websites like GoFundMe process payments.

https://www.wsj.com/articles/j-p-morgan-to-buy-payments-firm-wepay-in-first-major-fintech-acquisition-1508270453

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