Payment solution provider WePay has been acquired by JPMorgan Chase to help integrate its solution with millions of small businesses.
Founded in 2008, WePay is a payments solution API for onboarding and activation of payments. The platform helps to merchant onboarding to ensure the company has checkout forms, instant signup and KYC compliance. The platform also helps with the integration of payments to help companies with accepting payments.
Through the partnership, the payment solution, which will be fraud protected by Chase, will be able to integrate with any small businesses, through which ever payment process they use. The solution will also allow users to accept payments instantly and get paid quicker.
Chase Merchant Services CEO Matt Kane said, ?With WePay, Chase is taking the work out of payments for both our business clients and the software providers who serve them. We are powering payments for growth, so businesses can accept payments instantly, get paid faster, and never lose a sale. And well give ISVs a payment facilitator-like experience without the overhead or increased fraud risk.p>
WePay has received around $74m in funding since its foundation, with the company receiving a $40m funding round in 2015.
Earlier this year JPMorgan Chase completed the $50m funding in to mobile payments company LevelUp. The funding round will be used to help the company to help accelerate the businesses growth.
Copyright ? 2017 FinTech Global
