JPMorgan Chase and Bank of America have held preliminary discussions in recent months about acquiring a payments network owned by fintech company Fiserv, the Wall Street Journal reported Monday. Fiserv's shares rose 4.3% in after-hours trading on the news. The deal would reshape the U.S. payments sector by giving the two largest banks direct ownership of a major transaction-processing network.
JPMorgan Chase and Bank of America have held preliminary talks to acquire a payments network owned by Fiserv, a deal that would give the two largest U.S. banks direct control over a major transaction-processing backbone.
The discussions are at an early stage and may not result in a transaction, the Wall Street Journal reported Monday, citing people familiar with the matter. Reuters could not independently verify the report.
Fiserv's shares climbed 4.3% in after-hours trading following the news. The Brookfield, Wisconsin-based financial-technology company operates a network that processes payments for banks and merchants across the U.S.
An acquisition would mark one of the most significant moves by traditional banks into payments infrastructure, potentially reducing their reliance on third-party processors. For JPMorgan and Bank of America, owning the network could lower transaction costs and create a new revenue stream, though any deal involving the two largest U.S. lenders would face substantial regulatory review.
The talks come as large banks seek greater control over the payments value chain, a sector where fintech companies including Stripe, Block and PayPal have gained market share. JPMorgan, the largest U.S. bank by assets, has been expanding its own merchant processing capabilities, while Bank of America has invested in digital payments technology.
A joint acquisition would give both banks a direct stake in the infrastructure layer of the U.S. payments system, potentially reshaping competitive dynamics with established networks such as Visa and Mastercard. The deal would also test the regulatory environment, with the Federal Reserve, the Office of the Comptroller of the Currency and the Department of Justice likely to review any transaction involving the two largest U.S. banks and a major fintech processor.
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