JPMorgan: new acquisition in payment systems
(CercleFinance.com) - On Monday J.
P. Morgan announced that it has signed an agreement to acquire Renovite Technologies, a US specialist in cloud-based payment systems.
The US bank says that the deal - described as "strategic" - will enable its J.P. Morgan Payments subsidiary to shape its next-generation platform while strengthening its monetisation strategy.
Founded in 2015, Renovite - headquartered in Fremont, California - provides payment reconciliation, transaction security and ATM operations services, amongst other services.
Now operating in India and the UK, Renovite had been a J.P. Morgan service provider since 2021.
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