It represents JPMorgan Chase’s first major fintech acquisition and will deservedly grab the headlines: Chase is to buy WePay.
WePay serves online marketplaces and crowdfunding websites-and will now offer its services to Chase’s SME clientele.
Go deeper with GlobalData
A purchase price has not been disclosed but at last valuation, WePay was worth in excess of $200m.
WePay competes against established players such as FirstData as well as challengers to the incumbents including PayPal.
It is, says WePay, “a platform payments company that provides a payments API as well as payment, risk and support products and services to software and platform companies. We do payments for software and platforms, that’s all we do and we do it better than anyone else.”
And now it has cashed in and is doing payments very profitably for its investors.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataWePay has raised more than $75m in funding with investors including PayPal co-founder Max Levchin.
