(19 October 2017 – USA) JPMorgan Chase & Co has announced that it plans to acquire online payment provider WePay as the US-based bank looks to integrate payments into software used by small businesses.
WePay's technology helps small businesses online software service providers such as FreshBooks and crowdfunding websites such as GoFundMe process payments without impacting the user experience designed by developers.
Reports suggest the price was above the US$220 million (A$280 million) valuation that WePay achieved in a 2015 fundraising.
Earlier this month, the bank led a A$100 million investment in Bill.com, which it partnered with to help business clients make and receive payments electronically.