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JPMorgan Acquires Fintech Start-Up WePay

Share this article - JPMorgan (NYSE:JPM) said Tuesday it has agreed to buy payments start-up WePay, in its first major acquisition of a financial technology startup.The two companies didn’t disclose the terms of the deal, but the Wall Street Journal reported the price being above $220 million.The investment banking giant said it will roll out WePay's payments technology to its 4 million small businesses clients.WePay's software is used by online marketplaces and crowdfunding websites like GoFundMe to process payments.Financial institutions have expressed growing interest in fintech acquisitions amid the growing popularity of e-commerce.

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