Magazine : Archives : 1st Quarter 2018
Should Banks Acquire Fintech Firms?
JPMorgan Chase & Co. generated some buzz last October with its acquisition of WePay, a payments platform that works with companies such as GoFundMe and Constant Contact. The acquisition appears to be part of the banking giant’s focus on the payments space: Earlier in the year, it purchased payments technology from the merchant consortium MCX to expand its Chase Pay wallet. “When we think about fintech, we go through a ‘build/buy/partner’ evaluation to decide how we can get to market most efficiently,” said Jennifer Roberts, head of Chase Pay, in a release at the time. “This [acquisition] will help us...
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