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Chase Card Services

Welcome to the News View for "Chase Card Services".

Here, on these archive pages, you'll find all of the articles on Payments News for Chase Card Services listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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April 15, 2014

Headline News from PaymentsNews.com - April 15, 2014

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Updates from Glenbrook:

February 27, 2014

Headline News from PaymentsNews.com - February 27, 2014

Glenbrook's Payments Insight Workshop series this spring focuses on three key topics for payments professionals: Bitcoin - Basics and Beyond (March 26), Data in Payments (April 22) and Innovation in Payments (May 8). Offered in a small group setting in the San Francisco Bay Area, registration is now open for each of these workshops!

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Updates from Glenbrook:

February 26, 2014

Headline News from PaymentsNews.com - February 26, 2014

Glenbrook's Payments Insight Workshop series this spring focuses on three key topics for payments professionals: Bitcoin - Basics and Beyond (March 26), Data in Payments (April 22) and Innovation in Payments (May 8). Offered in a small group setting in the San Francisco Bay Area, registration is now open for each of these workshops!

On the Web:

On the Wires:

Updates from Glenbrook:

January 09, 2014

Headline News from PaymentsNews.com - January 9, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

On the Wires:

Updates from Glenbrook:

January 08, 2014

Headline News from PaymentsNews.com - January 8, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

  • Inside Bitcoin - John Patrick - "Banks, credit card companies, and money transfer companies do not like Bitcoin because the new digital currency model threatens the status quo and related fees. In the early days of the World Wide Web, there were similar views to what we hear about Bitcoin."
  • The MTA Plans to Turn New Yorkers’ Smartphones into Subway Passes - Skift - "The MTA plans to have a next-generation fare payment system in place by 2019, says agency spokesman Aaron Donovan."
  • Real-time Fraud Prevention - Emerging Payments Strategies (FIS) - "The better your anti-fraud strategies and solutions, the better you’ll be at protecting your institution and your cardholders. These pressures are driving the industry toward more and more real-time solutions that attempt to stop fraud before it starts."
  • Bitcoin isn’t Money—It’s the Internet of Money - The Umlaut (Eli Dourado) - "The Internet model improves upon the traditional telephone model by making possible what Vint Cerf calls “permissionless innovation.” Tim Berners-Lee was able to launch the World Wide Web without waiting for Internet service providers to support it."
  • Bitcoin Woos Washington to Ensure Lawmakers Don’t Kill It - Bloomberg - "The outreach is aimed at ensuring that wary lawmakers don’t kill the embryonic industry and regulators provide a clear set of rules to play by."
  • Bitcoin Banned by Alibaba’s Taobao After China Tightens Rules - Bloomberg - "Alibaba Group Holding Ltd., China’s largest e-commerce website, will ban the sale of Bitcoin and other virtual currencies after the country’s central bank tightened regulations in December."
  • Alibaba Online-Payment Affiliate Teams With Sina Corp. - "The affiliate, called Alipay, said on its official microblog account that the new service allows users of Sina's Weibo microblog service to make online and offline payments through their Alipay accounts."

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Updates from Glenbrook:

December 23, 2013

Headline News from PaymentsNews.com - December 23, 2013

Webinar: Managing Cardholder Data Security Risks in an Evolving Payments Landscape - Be sure to join Glenbrook's Bryan Derman, BakerHoestetler's Craig Hoffman and Mandiant's Marshall Heilman for this webinar on January 15 from 2-3:30 PM Eastern time. Registration is now open.

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On the Wires:

  • MoneyGram Reaches 200 Country Network Milestone - “This is an important achievement in our continuous efforts to strengthen our network and to reach more customers across the globe,” says Pamela H. Patsley, chairman and chief executive officer at MoneyGram.

Updates from Glenbrook:

November 22, 2013

Headline News from PaymentsNews.com - November 22, 2013

On the web:

  • Will U.S. consumers and retailers ever be ready for NFC? - Mobile Commerce Daily - “While I wouldn’t say that Google has given up on NFC, they certainly are acknowledging a willingness to work outside of that system as an interim solution,” said Brian Stein, managing director at Pervasive Path, Cleveland, OH.

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Updates from Glenbrook:

November 14, 2013

Headline News from PaymentsNews.com - November 14, 2013

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September 10, 2013

Headline News from PaymentsNews.com - September 10, 2013

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August 12, 2013

Headline News from PaymentsNews.com - August 12, 2013

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Updates from Glenbrook:

July 15, 2013

Headline News from PaymentsNews.com - July 16, 2013

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Updates from Glenbrook:

May 28, 2013

Chase Names Mike Passilla CEO of Merchant Services

Chase logo 140pxJPMorgan Chase has announced that Mike Passilla has been named chief executive officer of Merchant Services, a newly created role that will oversee Chase’s growing payments and merchant services business including Chase Paymentech, Chase’s merchant offers business, as well as Chase Merchant Services, Chase’s recently-announced merchant payments initiative. Passilla joins Chase from Elavon where he most recently served as president and CEO.

Merchants represent an important client base for Chase, and we want to bring together our full suite of leading services for merchants under one organization,” said Gordon Smith, CEO of Chase Consumer & Community Banking.

"Chase has been at the forefront of innovation in the payments industry, and I’m confident Mike’s vision and experience will help us continue to be a leader in this important area.”

Additionally, Dan Charron was named president of Chase Paymentech and will report to Passilla.

Earlier this year, JPMorgan Chase announced the creation of Chase Merchant Services, a new payments proposition that will allow Chase to bring advantageous solutions for merchants and differentiated experiences to cardholders. Ray Fischer, president of Chase Merchant Services, also will report to Passilla.

May 22, 2013

Chase Eliminates Foreign Transaction Fees on United MileagePlus Explorer Cards

Chase logo 140pxChase Card Services has announced that "effective June 1, all purchases made with the United MileagePlus® Explorer Card outside of the U.S. will no longer be subject to foreign transaction fees."

United MileagePlus Explorer cardmembers travel to a variety of destinations around the world,” said David Gold, general manager, Chase Card Services. “The MileagePlus Explorer Card offers a host of benefits designed to make traveling the globe much more enjoyable. With the enhancement of no foreign transaction fees, we can now provide cardmembers tangible savings when traveling outside the U.S.”
Chase says that one of its cardmembers spending $3,000 while traveling outside of the U.S. would save $90 as a result of this change.

May 09, 2013

Headline News - May 9, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

May 07, 2013

Headline News - May 7, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

May 06, 2013

Headline News - May 6, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

April 23, 2013

Headline News - April 23, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

April 22, 2013

Headline News - April 22, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

April 19, 2013

Headline News - April 19, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

March 05, 2013

February 26, 2013

Visa, JPMorgan Chase to Form 'Chase Merchant Services'

Visa logo 60pxhVisa and JPMorgan Chase have announced that the companies have agreed to a letter of intent for a new and expanded 10-year renewable partnership agreement to better serve both Chase cardholders and merchants.

“We are pleased to extend our long-term partnership with Visa,” said Gordon Smith, CEO of Consumer & Community Banking, JPMorgan Chase. “Chase Merchant Services enables us to build direct relationships with merchants and give enhanced benefits, such as targeted offers and discounts to Chase Visa cardholders.”

Chase Merchant Services combines the capabilities of JPMorgan Chase’s acquiring business, support functions and extensive card portfolio with a customized processing solution that Visa and JPMorgan Chase will create using Visa’s network, VisaNet.

January 16, 2013

JPMorgan Chase - Card Services 4Q2012 Financial Results

Chase logo 140pxJPMorgan Chase has reported financial results for the fourth quarter 2012. Highlights for Card Services include:

  • Net income was $840 million, a decrease of $211 million, or 20%, compared with the prior year. The decrease was driven by higher provision for credit losses and higher noninterest expense.

  • Net revenue was $4.8 billion, flat compared with the prior year. Net interest income was $3.5 billion, down $45 million, or 1%, from the prior year.

  • Credit Card sales volume (excluding commercial cards) was $101.6 billion, up 9% compared with the prior year and 5% compared with the prior quarter; Card Services general purpose credit card sales volume growth has outperformed the industry since the first quarter of 2008.

Merchant processing volume was $178.6 billion, up 17% from the prior year and 9% from the prior quarter; total transactions processed were 8.2 billion, up 21% from the prior year and 11% from the prior quarter.

December 21, 2012

Chase to Acquire Merchant Offer Provider

Chase logo 140pxChase and Bloomspot have announced that they have signed an agreement and plan of merger whereby Chase will acquire Bloomspot, a provider of targeted merchant offers.

“Chase has millions of strong relationships with consumers and merchants, and we are committed to building value in those relationships,” said Jeff Kinder, president of Chase Offers. “Merchant partners are continually looking for ways to engage the right customers, and consumers have shown a clear interest in receiving offers from their favorite merchants. We believe Chase has a unique set of assets to bring these customers together and deliver highly targeted, relevant merchant offers at scale.”

November 26, 2012

November 14, 2012

October 22, 2012

Isis Launches in Austin and Salt Lake City

Isis logo 140x60px Isis has announced the availability of the Isis Mobile Wallet in Austin and Salt Lake City. Consumers can visit their AT&T, T-Mobile or Verizon retail location and select from nine Isis Ready handsets, with an expected 11 additional handsets coming to market by year end.

“The launch of the Isis Mobile Wallet in Austin and Salt Lake City represents a milestone for both Isis and the mobile commerce industry,” said Ryan Hughes, chief marketing officer, Isis. “With as many as 20 Isis Ready handsets headed to market by year end, we are experiencing an unprecedented level of support for NFC and consumer choice.”

American Express, Capital One, and Chase are the card issuing partners.

October 15, 2012

JPMorgan Chase - Card Services 3Q2012 Financial Results

Chase logo 140pxJPMorgan Chase has reported financial results for the third quarter 2012. Highlights for Card Services include:

  • Net income was $954 million, an increase of $105 million, or 12%, compared with the prior year. The increase was driven by lower noninterest expense and lower provision for credit losses, partially offset by lower net revenue.

  • Net revenue was $4.7 billion, a decrease of $52 million, or 1%, from the prior year. Net interest income was $3.4 billion, down $78 million, or 2%, from the prior year.

  • Credit Card sales volume (excluding commercial cards) was $96.6 billion, up 11% compared with the prior year and 1% compared with the prior quarter; Card Services general purpose credit card sales volume growth has outperformed the industry since the first quarter of 2008

Merchant processing volume was $163.6 billion, up 18% from the prior year and 2% from the prior quarter; total transactions processed were 7.4 billion, up 21% from the prior year and 4% from the prior quarter.

September 24, 2012

August 13, 2012

July 25, 2012

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