Chase lands WePay for up to $400m

Dec 5, 2017 • Robert Lavine

Rakuten has exited payment processing platform WePay in an acquisition by JP Morgan Chase for between $300m and $400m.

Financial services firm JP Morgan Chase has closed the acquisition of US-based payment processing platform WePay yesterday, giving an exit to e-commerce firm Rakuten.

JP Morgan Chase will pay just over $300m for WePay, though the price could rise to $400m including retention bonuses and earnouts related to certain targets, sources told TechCrunch.

WePay has built a payment processing tool for online merchants that also includes tools for risk compliance, onboarding and e-commerce support. It will continue to operate independently…

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