J.P. Morgan to Acquire Renovite Technologies, Inc.
Acquisition of cloud-native payments technology firm to modernize infrastructure and create greater flexibility for the firm’s merchant acquiring capabilities globally
The strategic acquisition of Renovite will help J.P. Morgan Payments build its next-generation merchant acquiring platform, bolster the firm’s payments modernization strategy and support its journey to the cloud. Upon closing of the transaction, Renovite will become part of J.P. Morgan Payments, which combines corporate treasury services, trade finance, card and merchant services capabilities at the firm, delivering an integrated payments experience to clients across the economy.
“We are excited to acquire Renovite and 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
Founded in 2015 and headquartered in
“Renovite’s mission is to provide modernized infrastructure in the cloud with the latest technology, agility and in-depth knowledge of the payments landscape,” said
“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
The acquisition of Renovite is further evidence of J.P. Morgan Payments’ commitment to global clients by continuing to deliver resiliency and optimized infrastructure. This acquisition complements the firm’s proposed strategic investment in
Final transaction execution is subject to customary closing conditions.
About J.P. Morgan’s
Renovite was founded with the mission to develop and deliver the next generation of consumer payments solution for banks, processors, and merchants. Renovite recognizes that the aging payments infrastructure within many of the established payments providers is proving to be a costly and insurmountable barrier to the delivery of new innovative payments options. Renovite has developed an ultra-modern suite of payment solutions that can be easily integrated within legacy environments or as new platform deployments. These solutions are born from decades of experience in managing and delivering complex payments projects worldwide through a Continuous Delivery model. Renovite is headquartered in
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