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Chase Paymentech

Welcome to the News View for "Chase Paymentech".

Here, on these archive pages, you'll find all of the articles on Payments News for Chase Paymentech 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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June 09, 2016

Headline News from PaymentsNews.com - June 9, 2016

ON THE WEB

ON THE WIRES

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming this fall - in Palo Alto, CA and New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 17, 2015

Headline News from PaymentsNews.com - November 17, 2015

On the Web

On the Wires

  • Western Union Offers New Global Money Transfer Service on WeChat - “Given the proliferation of social media around the world, we are expanding our activities in this exciting area. It only makes sense to include the WeChat platform as part of the company’s innovative digital money transfer capabilities. By teaming with WeChat and deploying the WU Connect platform to its U.S. users, Western Union is offering yet another new method for consumers to move money worldwide."
  • Global Payments Announces Support for Apple Pay in Canada - “Following successful enablement in the U.S. and the UK, Global Payments is pleased to be one of the first providers in Canada to offer merchants the exciting opportunity to accept Apple Pay,” said Frank T. Young, SVP, Global Product and Innovation.
  • Chase teams up with 18 technology partners to help merchants accept Chase Pay - "These industry leaders will help merchants integrate Chase Pay into their overall payment acceptance strategy,” said Michael K. Passilla, CEO of Commerce Solutions, the global payment processor and merchant acquirer of JPMorgan Chase & Co. “Chase Pay solves a number of pain points for consumers and merchants to improve the customer experience and drive down the cost of payments.” - The technology partners announced include: 3Delta Systems, AJB Software, Aria Systems, Auric Systems, Authorize.Net, BridgePay, Bytemark, CardinalCommerce, FIS ClearCommerce, CyberSource, iBiz Software, LevelUp, Miva, P97, Recurly, USAePay, Vindicia and Xpress Bill Pay.
  • PayPal 2nd Annual Global Report Shows More Than 1/3 of Chinese Online Shoppers Now Buying Cross-Border - "Amidst a year of market-moving news coming out of China, no shortage of attention has been paid to its growing consumer class’ buying power as more enter the global online ecommerce market. This year’s findings support the growth trend: 35 percent of online shoppers claim to have shopped cross-border in 2015, vs. 26 percent in 2014."
  • Align Commerce Closes $12.5 Million Series A Round Led by Kleiner Perkins Caufield & Byers (KPCB) - "For far too long the cost and complications of existing payment systems have hindered startups and SMBs from fully capitalizing on global trade,” said Marwan Forzley, CEO of Align Commerce. “The Align Commerce platform cuts through time-consuming red tape and excessive fees that have unnecessarily burdened users. Existing systems have seen little innovation in the face of game-changing new technologies, and the entire experience is overdue for a radically different approach.”
  • First Data and NCR Sign Strategic Commercial Agreement - "First Data will be a preferred provider of cybersecurity and payment processing solutions to NCR’s customers in the grocery, petroleum and convenience store industries. NCR will be a preferred provider of ATM hardware and services to First Data’s client base of more than 4,000 financial institutions. The two industry leaders will also pursue co-development of integrated commerce technology solutions for U.S. merchant clients."
  • NFC Forum: U.S. Retailers May Not Be as Prepared for Retail Payments Migration as They Think - "The white paper describes ways for merchants to secure their businesses against fraud while accepting payment from customers in the way they prefer to pay. "
  • Synchrony Financial Announces Completion of Separation from GE - “This is an historic day for Synchrony Financial,” stated Margaret Keane, president and CEO of Synchrony Financial. “Today we launch the next stage in our company’s future – pursuing a long-term strategy focused on Synchrony’s business objectives as a stand-alone company. I am very proud of our employees, who have prepared us for this day, while continuing to serve our partners and customers and to grow our business.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 16, 2015

Headline News from PaymentsNews.com - November 16, 2015

On the Web

On the Wires

  • Nordstrom Launches Enhanced E-Gifting Experience with CashStar - "With CashStar Commerce, Nordstrom has enabled its customers to create a highly personalized e-gifting experience for their recipients with a large selection of Nordstrom-designed faceplates and artwork and ability to add a personalized message. The eGift card is delivered in a virtual Nordstrom silver envelope, an extension of Nordstrom’s signature silver box experience. Senders can also choose to have the eGift delivered instantly or on a future date and will receive notification when their gift has been viewed."
  • U.S. Bank Consumer Study Raises New Perspective on How Banks Balance Technology with a Human Touch - "Approximately 70 percent of consumers across all generations (85 percent of millennials) believe banks that are current with the latest technology are more trustworthy than banks that lag; however, nearly 4 out of 5 Americans say when it matters most, they value people more."
  • MasterCard Connects Startups to Its Global Network of Big Brand Partners - "Launched in 2014, MasterCard Start Path is a global effort to support innovative early stage startups developing the next generation of commerce solutions. This initial class of early-stage startups, selected from more than 200 applicants, are using big data, mobile and cloud-based applications to build digital relationships, empower consumers and simplify complicated tasks."
  • JCB Certified for U.S. EMV Chip Card Acceptance - "We are extremely pleased to achieve our first U.S. EMV acceptance certification,” said Dan Skaling, executive vice president for JCBUSA. “JCB has been a leader in EMV card acceptance in markets around the world for the past 10 years,” added Skaling. “Being able to give our cardholders this same safety and security when making purchases in the United States is a top priority,” continued Skaling.
  • Chase Commerce Solutions will streamline EMV certification with Host Payment solution from UL - "The "Chase Payment" module, which works with UL's existing Brand Test Tool solution, was specially designed for Chase so that their large and midsized business clients can test and pre-certify their end-to-end EMV solution prior to certification," says Sherif Samy the Commercial Director of UL's Transaction Security Division."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 03, 2015

Headline News from PaymentsNews.com - November 3, 2015

On the Web

On the Wires

  • American Express and Airbnb Launch First-of-Its-Kind Booking Experience and American Express Loyalty Program Integration for Card Members - “We welcome millions of Amex Card Members to belong anywhere with Airbnb,” said Lex Bayer, Head of Global Payments and Business Development, Airbnb. “Whether staying at a bungalow in Bali with Membership Rewards points, or a business trip to London with your Amex Card, this partnership makes booking an Airbnb in over 190 countries seamless and allows Card Members to be verified with their American Express login within the trusted community of Airbnb.”
  • Fiserv and Early Warning Partner to Enable Real-Time Bill Payment and Real-Time Deposit Services for U.S. Financial Institutions - "The partnership between Fiserv and Early Warning brings together the leading provider of electronic bill payment and the leading provider of real-time deposit account verification and funds availability to enable broader consumer access to real-time services through their financial institutions. Combined, the Fiserv and Early Warning networks reach more than 6,000 banks and credit unions, including the 40 largest financial institutions in the U.S. and thousands of mid-size and community financial institutions, representing more than 75 percent of all deposit accounts in the U.S. The NOW Network from Fiserv also connects to tens of thousands of billers."
  • Intuit’s New Banking Integration Technology Can Make Accounting More Accurate and Seamless - “This new bank feeds technology is all about leveraging the power of our platform to save small businesses time by automating the process of entering data into QuickBooks,” said Avi Golan, vice president and general manager of the Intuit Developer Group. “We’re pleased to be working with American Express to enable American Express OPEN Card Members to be the first to benefit from this new technology. This is a great example of how our open platform approach allows us to partner with leading companies who can help small businesses be more efficient and effective.”
  • Fractals Delivers Intelligent Card and eBanking Fraud Detection for the Enterprise - "Fractals’ new eBanking channel brings the intelligent fraud detection functionality of Fractals to the internet and mobile banking space. As well as monitoring financial transactions, such as payments and transfers, Fractals also monitors non-financial transactions, including login attempts, changes of personal data and creation of new recipients which might indicate fraud on an account."
  • MasterCard Names Craig Vosburg, President, North America Markets, Succeeding Chris McWilton - "Vosburg, 48, was most recently the company’s chief product officer, a role he held since April 1, 2014. In this role, he led the development, commercialization and management of the company’s global Core Products offerings which include consumer credit and debit, commercial, prepaid and loyalty solutions."
  • Catherine Moore named President for Commerce Solutions, Europe, for J.P. Morgan - “Catherine is an outstanding leader and an experienced manager whose wealth of knowledge and insight into the payments industry and this region will be invaluable in our drive to boost our current market position, enable our clients to grow, and make the most of new business opportunities throughout Europe,” said Michael K. Passilla, CEO for Chase Commerce Solutions.

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

October 28, 2015

Headline News from PaymentsNews.com - October 28, 2015

On the Web

  • MasterCard, CIBC and New York Life Join DCG Funding Round - CoinDesk - "Payments giant MasterCard has been named as one of 11 investors in Digital Currency Group's (DCG) new funding round."
  • Razorpay on a mission to simplify online payments in India - Entrepreneur India - “We are building the next generation payments infrastructure which will accelerate the future e-commerce growth in India. Our patented technology will greatly help in achieving higher transaction success rates and faster checkout time especially on mobile devices while making payment gateway integration as easy as embedding a few lines of code."
  • JPMorgan Chase Is Crushing It in Payments - Motley Fool - "The payments industry is changing rapidly, and, at least for now, it appears JPMorgan has a huge leg up on the competition."

On the Wires

  • PayPal Reports Strong Third Quarter Results - “PayPal is entirely focused on digital payments and transforming money for people around the world. This clear focus and our strong value proposition allowed us to deliver strong financial results in the third quarter,” said Dan Schulman, President and CEO of PayPal. “We are operating in a time when change is sweeping through the financial services industry driven by the rise of mobile technology and the acceleration of money becoming digital. These two massive trends play directly to our strengths and we are leveraging this transformation to extend and accelerate our lead.”
  • American Express Will Bring Apple Pay to Card Members in Key Global Markets - "Apple Pay is expected to be available for Card Members in Canada and Australia this year and in Spain, Singapore and Hong Kong in 2016. With Apple Pay, Card Members in these countries will have the ability to seamlessly add their eligible consumer, small business and corporate American Express® Cards(i) and pay with iPhone or Apple Watch in stores where contactless payments and American Express are accepted."
  • Chase and P97 Enable Mobile Payments for Retail Fuel and Convenient Stores"“With the combination of P97’s PetroZone® mobile commerce platform and Chase Pay we are thrilled to deliver more payment options to consumers at the pump,” said Donald Frieden, President and CEO of P97. “We are confident this combined solution will deliver an innovative mobile payment experience for the retail fuels market customer.”
  • UberRUSH Joins First Data’s Clover® App Market to Simplify On-Demand Delivery Service for Small Businesses"With just a click business owners can set pick-ups and track deliveries directly from their Clover device. In minutes, an UberRUSH delivery partner will pick up the purchased goods from the business and deliver them directly to the customer."
  • Wells Fargo Eliminates Foreign Transaction Fees for Small Business Credit Cards, Lines of Credit - "In a move that will help reduce expenses for U.S. small businesses that are doing business internationally, Wells Fargo today announced it has removed its foreign transaction fees on all business credit card and business line of credit access card transactions made outside the U.S. effective October 1. With this change, Wells Fargo is the only major U.S. bank that today does not charge a foreign transaction fee on all of its small business credit cards."
  • Synchronoss Forms New Venture to Develop Advanced Secure Mobility Solutions Leveraging Technology Contributed by Goldman Sachs - “While some companies have addressed the security of mobile devices at a basic data-loss-prevention level, the biggest challenge facing enterprises is enabling individuals to have a more productive mobile experience at a lower level of risk,” said Dave Schuette, Executive Vice President and President of Synchronoss’ newly created Enterprise Business Unit. “Synchronoss, building off of the technology developed by Goldman Sachs, is extending deeper into the enterprise to bridge this gap and solve the inherent complexity of mobile security by providing a comprehensive mobile framework.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

October 26, 2015

Chase Announces ChasePay - with MCX as Premier Merchant Partner

Chase logo 140pxChase has announced Chase Pay – calling it "a better payments experience for in-store, in-app and online purchases."

MCX – which includes retailers such as Walmart, Target, Best Buy and Shell – was announced as Chase Pay’s premier partner. Chase Pay will be progressively rolled out at these merchants who are accepting CurrentC starting in mid-2016. Chase customers will be able to use Chase Pay wherever CurrentC is accepted – either directly, or through the CurrentC app. Chase is also partnering with 17 technology vendors so that merchants who are not Chase Commerce Solutions clients can also participate in Chase Pay.

Chase Pay solves a number of pain points for consumers and merchants. It will improve the customer experience and drive down the cost of payments,” said Gordon Smith, CEO of Consumer & Community Banking at JPMorgan Chase & Co.

Chase said that Chase Pay addresses some of merchants’ biggest challenges – including the cost of payment, merchant fraud liability and speed of checkout. Chase Pay the same technology used to scan gift cards and will be able to connect a merchant’s loyalty program directly into the payment experience. Chase also says that it can work directly with merchants to drive down the cost of accepting payments through fixed pricing with no additional fees.

Chase Pay will be available in mid-2016 to Chase’s customers across its 94 million credit, debit and pre-paid card accounts.

October 22, 2015

Headline News from PaymentsNews.com - October 22, 2015

On the Web

On the Wires

  • Introducing Verifone Engage, the Future of Connected Payment Devices - "Verifone Engage is the company’s first-ever, fully-integrated, Linux-based product family, encompassing a complete range of payment solutions for merchants, acquirers, and service providers. It is the result of a new strategy at Verifone to bring unique value to the POS and the consumer experience with intuitive, connected and commerce-enabled solutions."
  • Poynt Announces $28 Million in Funding As It Prepares to Ship the World's First Smart Terminal - “Poynt is one of those rare companies that is aligned with the interests and needs of all parties in its ecosystem; it solves multiple merchant, bank, developer, and consumer problems with stellar technology and design, and it benefits from impeccable timing. What Poynt has been able to accomplish, building both hardware and software in the notoriously challenging payments space, is simply incredible.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 28, 2015

Headline News from PaymentsNews.com - April 28, 2015

On the Web:

On the Wires:

  • Chase Commerce Solutions and USA Technologies Form Strategic Relationship - “We continue to enable commerce through a simple, secure payment experience for consumers and for our business clients,” said Kimberly Fitzsimmons, U.S. Market President for Chase Commerce Solutions. “We are pleased to work with USA Technologies, a market leader in this important and rapidly emerging space to accept all types of payments easily and securely.”
  • Synchrony Financial and Stash Hotel Rewards Announce Exclusive Agreement to Provide Co-Brand Credit Card Program - “We created Stash because we saw travelers passing on exceptional hotel experiences to stay at predictable chain hotels, just so they could earn points,” said Jeffrey Low, Founder and CEO of Stash Hotel Rewards. “Stash is designed to let the traveler have it all – a memorable stay and meaningful rewards. By partnering with Synchrony Financial we’re creating a card that accelerates rewards while keeping with our tradition of remarkable experiences without compromise.”
  • Citi Prepaid Services and Enservio Announce Partnership for Prepaid Insurance Payments - Deirdre Ives, Global Chief Operating Officer of Citi Prepaid Services, said, “We are excited to partner with Enservio to provide our prepaid cards to their flexible, innovative, and cost-effective payment solution for the insurance vertical. Prepaid cards are a smart alternative to checks, and our award-winning prepaid product simplifies claims payments for insurance clients while delivering an exceptional cardholder experience.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

May 08, 2014

Headline News from PaymentsNews.com - May 8, 2014

On the Web:

On the Wires:

  • Citi Is First To Offer Banking Customers The Option To Use Rewards Points For Online Bill Payments - "We want our members to have the choice of using their points when and how they want," said Mary Hines Droesch, Head of ThankYou Rewards at Citi. "Whether you want to pay this month's cell phone or utility bill due next week, ThankYou Rewards lets you decide how you use your points."
  • Boku Signs Global Mobile Payments Partnership with Deutsche Telekom Group - “Strategic partnerships with key carrier groups are what will drive the entire mobile payments industry forward,” said James Patmore, Managing Director of EMEA for Boku. “As Boku continues to bring on large merchants with more sophisticated requirements, it requires a deeper level of coordination with the large carrier groups to offer a solution that can deliver across multiple markets and via multiple carriers. This deal is a key milestone in the continuing journey of making mobile payments an established payment system that is accessible to billions of consumers around the world.”
  • Zipmark Deposit(TM) Enables Businesses to Payout to Many Recipients at Once - "Zipmark Deposit™ is a unique payments service that allows businesses of any size to send an unlimited number of secure digital check payments at one time."
  • Ebates.com Announces Free New iPad App for Cash Back Shopping - “We are delighted to give our members and iPad users worldwide a terrific new way to save money on everything they buy from their device,” said Kevin H. Johnson, CEO of Ebates, Inc.

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

May 06, 2014

Headline News from PaymentsNews.com - May 6, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

October 09, 2013

Headline News from PaymentsNews.com - October 9, 2013

On the web:

On the wires:

Updates from Glenbrook:

  • Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
  • Join us for our new series of Glenbrook Payments Boot Camps October 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

August 13, 2013

Chase Checkout Introduced by Chase Paymentech

ChasePaymentech logo 140pxChase Paymentech has announced the launch of “Chase Checkout” – a set of solutions to help merchants accept payments however they do business: in store, online or on the go. Merchants can now securely and efficiently accept card payments from their smartphones with the new Chase Mobile Checkout app for Apple iOS or Android and an encrypted card reader.

“We are always looking for ways to help merchants grow their businesses and Chase Checkout does just this by enabling clients to accept payments however they operate,” said Dan Charron, president of Chase Paymentech.

“Chase Checkout is a ‘one-stop shop’ for small-business owners: one agreement, one system, one statement and one trusted merchant services’ relationship to manage.”

Chase says that Checkout gives merchants the convenience of working with one trusted provider – with integrated reporting, 24/7 live U.S.-based customer support and a commitment to security– when they accept payments via:
  • Mobile Checkout: When merchants accept mobile payments with Chase Paymentech, they can process credit and signature debit card payments and gift card transactions in any location within the United States. Merchants have transaction level access to monitor and process voids and returns from their smartphones. Merchants can view sales and transaction summaries from the Mobile Checkout app after the payments have been processed. Additionally, they can create a catalog of item descriptions and images and email or text digital receipts. The use of signature capture and the location of the point of sale on the digital receipt helps minimize fraud and chargebacks. Finally, merchants’ customer data is protected in transit with point-to-point encryption.
  • Retail Checkout: In retail settings, Chase Paymentech’s Future Proof Terminal helps merchants accept both traditional and emerging forms of payment such as EMV (Europay, Mastercard and Visa) chip-enabled cards, NFC-enabled (near field communications) mobile wallets and other contactless payments. Also, through iTerminal®, businesses and professional service firms such as accounting, law and medical, can use their existing computers to accept payments, helping them save on traditional start-up equipment costs.
  • Online Checkout: Chase Paymentech offers e-commerce merchants, and merchants who accept telephone orders, a suite of PCI-compliant and easy-to-use web-based payment processing options accessible with a merchant’s existing computer. These options require no additional hardware and integrate seamlessly with merchants’ shopping cart functionality, catalog creation and inventory management.

Chase says that its Mobile Checkout card reader is "battle-tested for real-world use. The device, which fits securely in the audio port of Apple and Android-enabled smartphones, features the recognizable Chase octagon and includes a rechargeable lithium ion battery so it does not drain the smartphone’s power supply. Having an integrated battery also increases the likelihood of positive card reads on the first swipe, and since hardware encryption is performed in the device, personal information is not stored within the smartphone."

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.

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.

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.

October 02, 2012

July 17, 2012

JPMorgan Chase - Card Services 2Q2012 Financial Results

Chase logo 140px JPMorgan Chase has reported financial results for the second quarter 2012. Highlights for Card Services include:
  • Net income of $1.0 billion, a decrease of $80 million, or 7%, compared with the prior year. The decrease was driven by a lower reduction in the allowance for loan losses compared with the prior year.

  • Card Services net revenue as a percentage of average loans was 11.91%, compared with 12.60% in the prior year and 12.22% in the prior quarter.

  • Credit Card sales volume (excluding commercial cards) was $96.0 billion, up 12% compared with the prior year and 10% compared with the prior quarter; Card Services general purpose credit card sales volume growth has outperformed the industry since 1Q082.

Merchant processing volume was $160.2 billion, up 17% from the prior year and 5% from the prior quarter; total transactions processed were 7.1 billion, up 20% from the prior year and 4% from the prior quarter.

June 27, 2012

Chase Paymentech Launches New 'Future Proof' Payment Terminal

ChasePaymentech logo 140px Chase Paymentech announced its new 'Future Proof' terminal that allows merchants to accept current and quickly emerging forms of customer payments all in one streamlined device –– EMV chip cards, phone-based mobile wallets, contactless, and magnetic stripe cards.
“As emerging payment options gain adoption in the U.S., merchants are looking to make the customer check-out process as easy and safe as possible,” said Mike Duffy, president of Chase Paymentech. “The Future Proof terminal is a one-stop solution for merchants to keep accepting today’s forms of payment and prepare for new consumer payment preferences on the horizon.”

April 16, 2012

JPMorgan Chase - Card Services 1Q2012 Financial Results

Chase logo 140pxJPMorgan Chase has reported financial results for the first quarter 2012. Highlights include:
  • Net income was $1.2 billion, a decrease of $351 million, or 23%, compared with the prior year. The decrease reflected a higher provision for credit losses, driven by a lower reduction in the allowance for loan losses compared with the prior year.

  • Card Services net revenue as a percentage of average loans was 12.22%, compared with 12.18% in the prior year and 12.26% in the prior quarter.

  • Credit Card sales volume (excluding commercial cards) was $86.9 billion, up 12% compared with the prior year and down 7% compared with the prior quarter; excluding the impact of the Kohl’s portfolio sale, sales volume was up 15% compared with the prior year.

Merchant processing volume was $152.8 billion, up 22% from the prior year and flat compared with the prior quarter; total transactions processed were 6.8 billion, up 21% from the prior year and flat compared with the prior quarter.

January 16, 2012

JPMorgan Chase - Card Services 4Q2011 Financial Results

Chase logo 140pxJPMorgan Chase has reported financial results for the fourth quarter 2011.
  • For its Card Services unit, Chase reported net income of $1.1 billion, a decrease of $497 million, or 32%, compared with the prior year. The decrease was driven by a $1.7 billion lower reduction in the allowance compared with the prior year, predominantly offset by lower net charge-offs.
  • Excluding the Washington Mutual and Commercial Card portfolios, Card Services net revenue as a percentage of average loans was 11.64%, compared with 11.78% in the prior year and 11.68% in the prior quarter.
  • Excluding the Washington Mutual and Commercial Card portfolios, Credit Card sales volume was $91.0 billion, up 9% compared with the prior year and 7% compared with the prior quarter; excluding also the impact of the Kohl's portfolio sale, sales volume was up 14% compared with prior year.
Chase Paymentech merchant processing volume was $152.6 billion, up 20% from the prior year and 10% from the prior quarter; total transactions processed were 6.8 billion, up 21% from the prior year and 11% from the prior quarter.

November 15, 2011

Headline News - November 15, 2011

On the web:

On the wires:

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

October 26, 2011

October 13, 2011

JPMorgan Chase - Card Services 3Q2011 Financial Results

Chase logo 140pxJPMorgan Chase has reported financial results for the third quarter 2011.
  • For its Card Services unit, Chase reported net income of $849 million, compared with $926 million in the prior year.
  • Excluding the Washington Mutual and Commercial Card portfolios, Card Services net revenue as a percentage of average loans was 11.68%, compared with 11.33% in the prior year and 11.95% in the prior quarter.
  • Excluding the Washington Mutual and Commercial Card portfolios, Credit Card sales volume2 was $84.8 billion, up 10% compared with the prior year and 2% compared with the prior quarter; excluding also the impact of the Kohl’s portfolio sale, sales volume was up 14% compared with prior year.

Chase Paymentech merchant processing volume was $138.1 billion, up 18% from the prior year and 1% from the prior quarter; 6.1 billion total transactions processed, up 17% from the prior year and 3% from the prior quarter.

July 14, 2011

JPMorgan Chase - Card Services 2Q2011 Financial Results

Chase logo 140pxJPMorgan Chase has reported financial results for the second quarter 2011.
  • For its Card Services unit, Chase report net income of $911 million, compared with $343 million in the prior year. The improved results were driven by a lower provision for credit losses, partially offset by lower net revenue.
  • Excluding the Washington Mutual and Commercial Card portfolios, the net charge-off rate was 5.28%, down from 9.02% in the prior year and 6.20% in the prior quarter; and the 30+ day delinquency rate was 2.73%, down from 4.48% in the prior year and 3.25% in the prior quarter.
  • Excluding the Washington Mutual and Commercial Card portfolios, sales volume was $83.1 billion, up 10% compared with the prior year and 11% compared with the prior quarter

Chase Paymentech merchant processing volume was $137.3 billion, up 17%, on 5.9 billion transactions processed.

March 29, 2011

January 18, 2011

Chase Paymentech Launches Safetech Fraud and Security Solutions

ChasePaymentech_logo-140px.jpgChase Paymentech has announced the launch of Safetech™ Fraud and Security Solutions, a new suite of services designed to protect online merchants from fraud and POS merchants from data breaches.
“Chase Paymentech is wise to bring together these much needed solutions to their merchants,” said Carol Coye Benson, managing partner at Glenbrook Partners. “We now live in a world where managing risks associated with payment fraud and data security is part of the daily routine for merchants everywhere. By closely integrating these tools with the payment processing work streams, the Safetech approach makes the process more efficient.”
Safetech Fraud Tools were developed in partnership with Kount; Safetech Encryption was developed in partnership with VeriFone.

January 17, 2011

JPMorgan Chase - Card Services 4Q2010 Financial Results

Chase_logo-140px.jpgJPMorgan Chase has reported financial results for the fourth quarter 2010.
  • For its Card Services unit, Chase report net income of $1.3 billion, compared with a net loss of $306 million in the prior year.
  • Excluding the Washington Mutual portfolio, the net charge-off rate was 7.08%, down from 8.64% in the prior year and 8.06% in the prior quarter; and the 30-day delinquency rate was 3.66%, down from 5.52% in the prior year and 4.13% in the prior quarter.
  • Excluding the Washington Mutual portfolio, sales volume was $83.2 billion, an increase of $7.5 billion, or 10%.
Chase Paymentech merchant processing volume was $127.2 billion on 5.6 billion total transactions processed.

September 27, 2010

UK Merchants Discover the Hidden Costs of eCommerce

ChasePaymentech_logo-140px.jpgChase Paymentech Europe has announced results on an independent national merchant survey, finding that "79% financial directors thought that their CNP payment capability had developed in a less than ideal way; a figure which rose to 94% in large organizations. The research also found that 68% of merchants still relied on manual CNP payment processing, requiring staff to process and reconcile CNP data manually, placing a huge strain on finance departments." It's even worse for cross-border sales.

July 05, 2010

British Companies Struggling With International Payment Systems, Hindering European Expansion

ChasePaymentech_logo-140px.jpgChase Paymentech Europe has announced results from a national survey today exploring the challenges faced by UK firms in ‘Customer Not Present’ (CNP) payments. The survey conducted for Chase Paymentech by independent research company, Dynamic Markets, showed that 30 percent of the 200 businesses questioned had international growth plans within the next one-to-two years, but that most did not have the payment systems in place to properly support European customers. READ MORE »

April 01, 2010

VeriFone Selects Chase Paymentech as Partner for PAYware Mobile Accounts

VeriFone Holdings has announced that Chase Paymentech has been selected as the preferred provider of new merchant accounts for buyers of VeriFone’s PAYware Mobile iPhone card payment solution sold through Apple Retail Stores and the Apple Store online beginning April 6. READ MORE »
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