J.P. Morgan has signed an agreement to acquire Renovite Technologies, a leading provider of cloud-native payment solutions. The strategic acquisition will aid J.P. Morgan Payments in the development of its next-generation merchant acquiring platform, as well as the firm’s payments modernization strategy and cloud journey. Renovite will become part of J.P. Morgan Payments upon completion of the acquisition, which combines the firm’s corporate treasury services, trade finance, and card and merchant services capabilities, delivering an integrated payments experience to clients across the economy.
“We are excited to accelerate our roadmap for helping our clients stay at the cutting-edge of payments innovation. This acquisition will help us achieve our goal to develop the next-generation payments processing platform globally,” said Max Neukirchen, Global Head of Payments & Commerce Solutions, J.P. Morgan.
“Renovite’s cloud-native merchant acquiring capabilities are already helping us better serve our clients. As the Renovite platform integrates with J.P. Morgan Payments, merchant acquiring clients will be able to accept more methods of payments around the globe to help grow their business,” said Mike Blandina, Global Head of Payments Technology, J.P. Morgan.
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