JPMorgan to buy online payment provider WePay
Reuters
Published Oct 17, 2017 08:15PM ET
JPMorgan to buy online payment provider WePay
(Reuters) - JPMorgan Chase & Co (NYSE:JPM) said on Tuesday it would acquire online payment provider WePay as the bank looks to integrate payments into software used by small businesses.
WePay's technology, popular among small businesses, helps online software service providers like FreshBooks and crowdfunding websites such as GoFundMe process payments without impacting the user experience designed by developers.
The terms of the deal were not disclosed.
WSJ reported the price was above the roughly $220 million valuation that WePay achieved in a 2015 fundraising.
Earlier this month, JP Morgan led a $100 million investment in Bill.com, which it partnered with to help business clients make and receive payments electronically.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.