JPMorgan Chase acquires payments fintech Renovite

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JPMorgan Chase acquires payments fintech Renovite to help it battle stripe as well as Block, CNBC has Found Out.

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While JPMorgan is often content to partner with fintechs as well as take relatively small stakes in them...

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the bank really felt that Renovite's product was too important not to have outright, according to a JPMorgan executive

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The acquisition, reported initially by CNBC, is the current in a string of recent fintech deal made under CEO Jamie Dimon

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The bank has actually acquired at least five fintech start-ups since late 2020

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Takis Georgakopoulos, JPMorgan Chase claimed:- JPMorgan's vendor acquiring revenue delayed in 2015 in part since it was behind in some ecommerce segments and offered less services than some fintech competitors

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"Changing that picture is a huge story behind our investments," Takis Georgakopoulos, JPMorgan Chase

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"Our clients truly worth choice; they intend to provide several settlement techniques to their customers, whether it's Visa, MasterCard, but additionally Buy-now, pay-later, etc," said Max Neukirchen, JPMorgan

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JPMorgan ran trials with Renovite as a supplier last fall, but was impressed enough with the start-up's products that it determined to obtain the firm outright

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JPMorgan Chase acquires payments fintech Renovite

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Hope You Will Get Information as You Wish and Enjoy This Web Story