Deluxe has acquired CheckMatch from Kinexys by J.P. Morgan, strengthening its Deluxe Payment Network (DPN). Announced on August 6, 2025, this strategic acquisition enhances digital lockbox capabilities, streamlining B2B payments for enterprises and financial institutions.
Deluxe’s acquisition of CheckMatch, developed by Kinexys by J.P. Morgan, integrates a service that digitizes paper check delivery into the Deluxe Payment Network (DPN). The DPN connects physical lockboxes across the U.S., enabling efficient payment processing for thousands of businesses. “In alignment with our strategy to expand in Payments and Data, this acquisition marks a continued investment across our B2B payments portfolio,” said Barry McCarthy, President and CEO of Deluxe. This move positions Deluxe to build the largest purpose-built digital lockbox network, offering scale, security, and simplicity.
CheckMatch’s technology eliminates traditional check processing costs, such as postage, envelopes, and labor, for payors, including financial institutions and bill pay platforms. For payees, the transition to digital delivery maintains existing lockbox protocols, ensuring seamless treasury workflows. The digital network simplifies reconciliation, enhances reliability, and accelerates payment management, providing treasurers with greater control and confidence. “By bringing together the strengths of CheckMatch and DPN, we are building the largest purpose-built digital lockbox network in the market—delivering value through scale, security, and simplicity,” McCarthy added.
Deluxe has doubled the number of lockboxes accessible through DPN in the first half of 2025. Upon full integration of CheckMatch by mid-2026, the platform will connect five of the top 10 U.S.-based lockbox providers and multiple disbursement partners, including financial institutions, AP automation platforms, and a major medical payments provider. “We are thrilled to see CheckMatch become an integral part of a larger vision that embodies our shared commitment of bringing next-gen innovation to the world of finance and delivering exceptional value for our clients,” said Umar Farooq, Global Co-Head of J.P. Morgan Payments. This expansion enhances the network’s reach and efficiency.
Kinexys by J.P. Morgan, the developer of CheckMatch, has processed over $2 trillion in notional value and averages $3 billion daily in transaction volume, with a 10x year-over-year growth in payment transactions. By integrating CheckMatch’s blockchain-based capabilities, Deluxe strengthens its position in the B2B payments ecosystem, particularly for large enterprises and financial institutions reliant on check payments. This acquisition aligns with Deluxe’s ongoing strategy to innovate and modernize payment solutions.
Deluxe’s acquisition of CheckMatch marks a pivotal step in revolutionizing B2B payments by creating a scalable, secure digital lockbox network. This strategic move enhances operational efficiency, reduces costs, and positions Deluxe as a leader in modernizing payment infrastructure for businesses worldwide.
Deluxe, a Trusted Payments and Data Company, champions business so communities thrive. Our solutions help businesses pay, get paid, and grow. For more than 100 years, Deluxe customers have relied on our solutions and platforms at all stages of their lifecycle, from start-up to maturity. Our powerful scale supports millions of small businesses, thousands of vital financial institutions and hundreds of the world’s largest consumer brands, while processing more than $2 trillion in annual payment volume. Our reach, scale and distribution channels position Deluxe to be our customers’ most trusted business partner.
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