JPMorgan has agreed to buy payments company WePay in the bank’s first sizable acquisition of a financial technology startup, The Wall Street Journal reports.
The banking giant plans to roll out WePay’s technology to JPMorgan’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.
