Deluxe Expands Payment Network with $25M Acquisition of CheckMatch

Deluxe has acquired CheckMatch from JPMorgan Chase for $25 million, enhancing its Payment Network and creating the largest digital lockbox network in the market. The acquisition aligns with Deluxe's strategy to expand its B2B payments portfolio and is expected to improve efficiency and reduce costs for stakeholders. The move is seen as positive for Deluxe, with a current market cap of $726.6 million and a neutral market sentiment.

Deluxe, a leading payments and data company, has acquired CheckMatch from JPMorgan Chase for $25 million, enhancing its Payment Network and creating the largest digital lockbox network in the market. The acquisition aligns with Deluxe's strategy to expand its B2B payments portfolio and is expected to improve efficiency and reduce costs for stakeholders. The move is seen as positive for Deluxe, with a current market cap of $726.6 million and a neutral market sentiment [2].

CheckMatch, a service that digitizes the delivery of paper checks, was developed by Kinexys by J.P. Morgan. By integrating CheckMatch into its existing Deluxe Payment Network (DPN) solution, Deluxe aims to streamline the processing of payments made to thousands of businesses across the U.S. The combined platform is expected to include five of the top 10 U.S.-based lockbox providers and multiple leading disbursement partners [2].

The acquisition is expected to bring significant cost savings to payors by eliminating postage and other physical check expenses. For payees, the process remains virtually unchanged, with payments now delivered digitally, improving reliability and speed without disrupting treasury workflows. As the network scales, participants will benefit from increased efficiency and shared infrastructure [2].

Deluxe's expansion into the digital lockbox market is a strategic move to leverage the speed and efficiency enabled by blockchain technology. The acquisition supports Deluxe's long-term goal of delivering value through scale, security, and simplicity in competition with traditional offerings. The company has already more than doubled the number of lockboxes accessible through DPN in the first half of 2025 [2].

The acquisition of CheckMatch further solidifies Deluxe's position as a trusted payments and data company, championing business growth and efficiency. With a powerful scale supporting millions of small businesses, thousands of financial institutions, and hundreds of the world’s largest consumer brands, Deluxe is well-positioned to be its customers’ most trusted business partner [2].

References:

[1] https://www.gurufocus.com/news/3041246/jpmorgan-chase-co-expands-stake-in-3m-co-with-significant-share-acquisition
[2] https://www.morningstar.com/news/business-wire/20250806696418/deluxe-acquires-checkmatch-from-kinexys-by-jp-morgan-to-extend-digital-lockbox-payments-capability
[3] https://pulse2.com/deluxe-buys-checkmatch-from-kinexys-by-j-p-morgan/