The financial services firm has agreed to purchase payment processor WePay, which had raised $75m from investors including Rakuten, for almost $300m.
WePay, a US-based payment processing service backed by e-commerce company Rakuten, is set to be acquired by financial services firm JPMorgan Chase for an undisclosed sum.
Although the purchase price was not disclosed by the company, a source told Axios it was “just south of $300m” in cash.
Founded in 2008, WePay has created a software platform that allows online retailers to accept payments from consumers without having to worry about setting up a secure infrastructure themselves.
The acquisition is…
