JPMORGAN CHASE TO SPEED UP ROLLOUT OF NEW PAYMENTS SERVICES WITH RENOVITE ACQUISITION

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JPM Intrinsic Value – JPMORGAN($NYSE:JPM): JPMorgan Chase has agreed to acquire California-based payments startup Renovite Technologies, Inc The move will help the bank speed up its ability to roll out new offerings to merchants. Renovite also has a presence in India and the United Kingdom and has supplied services to J.P. Morgan since 2021. The bank has already launched several new payments products and services in recent years, including Chase Pay, a mobile wallet that allows customers to pay with their smartphones. In the long term, this could help the bank increase its market share and earnings.

Share Price

JPMORGAN CHASE & CO announced on Monday that it has acquired Renovite Technologies, a payments processing company. JPMORGAN CHASE & CO stock opened at $120.6 on Monday and closed at $120.6, up by 1.2% from prior closing price of 119.2. This acquisition is expected to be accretive to earnings per share within the first year.

VI Analysis – JPM Intrinsic Value

The below analysis on JPMORGAN CHASE & CO are made simple by VI app. The intrinsic value of JPMORGAN CHASE & CO share is around $139.7, calculated by VI Line. Now JPMORGAN CHASE & CO stock is traded at $120.6, a fair price undervalued by 14%. JPMORGAN CHASE & CO is a great long-term investment. The company’s fundamentals reflect its long-term potential, and it is currently trading at a fair price that is undervalued by 14%.

Summary

The terms of the deal were not disclosed. Renovite Technologies is a provider of cloud-based software that helps businesses manage their payments and other financial operations. The acquisition will help JPMorgan Chase to accelerate the development of its new payments platform, which is designed to provide businesses with a simpler and faster way to make and receive payments. The Renovite Technologies team will join JPMorgan Chase’s Corporate & Investment Bank Payments group. The bank has been investing heavily in fintech in recent years and has made a number of acquisitions in the space. JPMorgan Chase has also been developing its own in-house fintech solutions.