JPMorgan Chase and First Data Corp. have announced an agreement to integrate the companies' jointly owned Chase Merchant Services and Paymentech merchant businesses, to be operated under the name of Chase Paymentech Solutions, LLC. The joint venture will be owned in the aggregate -- 51 percent by Chase and 49 percent by First Data.  Chase Paymentech Solutions will be directed by a combined executive team led by Michael P. Duffy, Paymentech's current president and chief executive officer.

In a press release this morning, Visa USA has provided some of the commentary of President and CEO John Philip Coghlan at this week's Security Summit in Washington, DC.

Bank of America has launched "Keep the Change", a new savings feature tied to debit cards.

Pay By Touch Solutions has announced that it has secured $130 million in new financing: $75 million was raised in senior secured notes and an additional $55 million was raised in a convertible promissory notes.

"We are thrilled to have major investments from two of the world's most respected hedge funds in this innovative financing. They will be substantial value added partners as we continue our rapid growth," said Gus Spanos, Executive Vice President of Pay By Touch Solutions.

"We are changing the way the world pays," said John Rogers, founder, chairman and CEO of Pay By Touch Solutions. "The additional funding allows us to continue development of secure biometric products and services as well as to pursue strategic acquisitions in vertical markets such as healthcare, loyalty products, online shopping, gaming, banking, finance, and implementations in businesses such as lodging, airlines, quick service restaurants, gas stations, car rentals, health clubs, theme parks, sports stadiums...the opportunities are boundless."

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