WePay Officially Becomes a Chase Company
December 04 2017 - 11:01AM
Business Wire
Software companies powering payments with WePay
access Chase’s four million small businesses; new partner
Volusion signs on
WePay announced today it is officially a Chase company, after
JPMorgan Chase completed the transaction announced in October.
WePay will continue to provide integrated payments to
global software platforms like Freshbooks and Constant
Contact, now with the backing of the nation’s largest financial
institution. As part of the Chase family, it will provide
instant merchant onboarding and give software developers
and partners access to Chase’s network of four million small
business clients.
More than 1,000 software companies have
adopted payments as a service from WePay, and expanding that
business will be a priority for both organizations. WePay CEO Bill
Clerico and his executive team will continue to lead
the company, working alongside Chase Merchant Services CEO
Matt Kane and his leadership team.
The fintech company will continue as a standalone entity, while
also leveraging Chase's broader capabilities and acting as a
payments incubator for the firm.
“We see exponential growth ahead of us as we combine our fintech
products and culture with the global brand, scale, proficiencies,
and distribution of Chase," said Clerico. “We are headed into
a massive expansion of our team, with particular focus on
engineering and product management, and looking for a new
headquarters in the Bay Area to accommodate
our planned growth.”
Exemplifying its combined strength, the company also announced
today that ecommerce leader Volusion will deploy a new payments
service called Volusion Payments powered by Chase with WePay.
Austin-based Volusion has 30,000 active small- and medium-sized
merchants with $28 billion in cumulative sales.
“Volusion Payments is an exciting, innovative opportunity for us
as a company, as well as for our merchants,” said Kevin Sproles,
Volusion's Founder and CEO. “With this partnership, the small- and
medium-sized businesses we work with will be able to get up and
running instantly, with next-day settlement, competitive rates, and
all of their payment processing tightly integrated within the
software they’ve already chosen for managing their online
stores.”
Making it easier for Chase clients to find all they need to run
their business, Chase.com will soon begin featuring software
partners – including Volusion. Chase.com is the most visited
financial website in the United States, so this move provides
business service providers online exposure to millions of potential
new customers.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global
financial services firm with assets of $2.6 trillion and operations
worldwide. The Firm is a leader in investment banking, financial
services for consumers and small businesses, commercial banking,
financial transaction processing, and asset management. A component
of the Dow Jones Industrial Average, JPMorgan Chase & Co.
serves millions of consumers in the United States and many of the
world's most prominent corporate, institutional and government
clients under its J.P. Morgan and Chase brands. Information about
JPMorgan Chase & Co. is available at www.jpmorganchase.com.
About Chase Merchant Services
Merchant Services is the global payment acceptance and merchant
acquiring business of JPMorgan Chase & Co. and a leading
provider of payment, fraud management and data security solutions,
capable of authorizing transactions in more than 130 currencies.
JPMorgan Chase passed $1 trillion in merchant processing volume the
past two years and was ranked the world’s #1 wholly-owned merchant
acquirer by volume by The Nilson Report.
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version on businesswire.com: http://www.businesswire.com/news/home/20171204005703/en/
WePayJeremy Milk - jeremym@wepay.comorJPMorgan Chase &
Co.Maribel Ferrer - maribel.ferrer@chase.comMary Jane Rogers -
maryjane.h.rogers@chase.com
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