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Evening Standard
Evening Standard
Business
Simon Hunt

JP Morgan buys Renovite amid fight to keep top spot in payment processing

JP Morgan Morgan Adyen Stripe

JP Morgan holds the title of biggest payment processor in the US with almost $1.9 trillion in volume in 2021

(Picture: REUTERS)

Banking giant JP Morgan has agreed to acquire payments firm Renovite as it jostles with the likes of challengers Stripe and Adyen for the top spot in payment processing.

The firm says it hopes to integrate Renovite’s technology to bolster its digital offering as part of a strategy to modernise its payments systems. The terms of the deal were not disclosed.

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