JPMorgan Chase has agreed to acquire WePay.

JPMorgan Chase, an investment banking company, has agreed to acquire WePay, a software company. Financial terms were not disclosed. WePay delivers payments-as-a-service APIs for simple onboarding and activation of payments, without impacting the user experience designed by developers. Chase and WePay will ease payment friction for both software providers and merchants. Software providers will be able to provide instant onboarding to small business clients no matter how they take payments- in-store, online, or on-the-go, with the backing and fraud protection of Chase. Chase and WePay will allow merchants to accept payments instantly and get paid faster so they never lose a sale. “Being part of the Chase family—with its global capabilities, brand and scale—will help us better support our growing list of platform partners and the businesses they serve. We’re excited to marry the distribution of one of the world’s largest and most respected financial institutions with the best technology and talent in Silicon Valley.” Bill Clerico, WePay founder and CEO.