Is Chase a merchant bank?
While Chase Bank is traditionally known as a commercial and retail banking powerhouse, its parent corporation, JPMorgan Chase, operates a massive and highly successful merchant services and wholesale banking division. Chase Payment Solutions functions as a premier merchant acquirer, providing point-of-sale hardware, payment gateway processing, credit card authorization, and cash flow management solutions to millions of businesses ranging from small local shops to massive global enterprises. Therefore, while it is not strictly a standalone boutique merchant bank, it is one of the largest merchant payment processors and acquirers in the entire global financial marketplace.
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Berenberg Bank, founded in Hamburg, Germany, in 1590 by the Berenberg family, is universally recognized as the oldest merchant bank in continuous operation in the world.
Merchant banking involves underwriting, corporate advisory, and investment activities that expose institutions to a complex array of financial and operational hazards.