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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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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 »

March 31, 2010

Chase Paymentech, Aria Systems Partner on Subscription Billing, Payments

Chase Paymentech and Aria Systems have announced an agreement to "offer merchants a solution that combines Aria's SaaS based billing platform with the security, reliability, and broad currency support of Chase Paymentech." READ MORE »

January 21, 2010

Javelin Study: End-to-End Encryption, Tokenization, and EMV in the US

Javelin has announced a new report titled "End-to-End Encryption, Tokenization, and EMV in the US: Vendor Analysis of Emerging Technologies and Best Hybrid Solutions" that "assesses the capabilities of end-to-end encryption, tokenization, virtual terminals, magnetic-stripe security and the EMV standard as solutions to combat payment-related data breaches." READ MORE »

January 12, 2010

Final Results for Chase Paymentech's Cyber Holiday Pulse Index

Chase Paymentech has announced the final results of its Cyber Holiday Pulse Index that tracked daily online shopping activity throughout the 2009 holiday shopping season.

According to the company, "for 2009, the number of online shopping transactions soared 30 percent over 2008, while total sales volume increased 17.3 percent. The difference in these two numbers can be attributed to the decline in average ticket value, which dropped 9.8 percent." READ MORE »

December 28, 2009

A Look at Chase Paymentech's Cyber Holiday Pulse Index

ChasePaymentech_logo-140px.jpgChase Paymentech has updated its Pulse Index to reflect results from November 5 through yesterday. During the holiday season, Chase Paymentech monitors the daily settlement activity of 50 of the largest 250 Internet retailers, as defined by the Internet Retailer Top 500, to create the Pulse Index.

If you scroll down on the page, you'll see the full timeframe - with the peak shopping days being each Tuesday for the three weeks prior to Chrismas. From a sales standpoint, 2009 was slightly ahead of 2008 while transactions grew significantly. A lower average ticket in 2009 pulled down the sales comparison to last year.

December 16, 2009

It’s THE Online Holiday Season!

russ.jpgIn a post titled "It's the Online Holiday Season!" over on our sister blog PaymentsViews.com, Glenbrook's Russ Jones takes a look at some of the statistics regarding online eCommerce sales this holiday season.

Russ notes that "we’re wondering if this season might represent a significant inflection point in the shift towards online retail?"

December 15, 2009

Ecommerce Shopping Transactions, Sales Up Significantly Over 2008

The Chase Paymentech Cyber Holiday Pulse Index reports that, for the first five shopping days following Thanksgiving, online transactions were up 32 percent, and sales were up 24 percent. At the same time, the decline in the average customer’s ticket value was cut in half, from approximately 12 percent to 6 percent. According to Paymentech, "this result is unexpected when considering that this five-day stretch included aggressive Black Friday and Cyber Monday promotions." READ MORE »

November 23, 2009

Chase Paymentech's Third Annual Cyber Holiday Pulse Index

Chase_logo-140px.jpgChase Paymentech has launched an updated version of its Cyber Holiday Pulse Index to track online shopping activity throughout the 2009 holiday shopping season. Chase Paymentech says its Pulse Index this year will track over one million payment transactions made daily at 50 of the top U.S. retail Web sites as ranked by Internet Retailer magazine. READ MORE »

October 27, 2009

Chase Paymentech, VeriFone, Semtek Partner on End-to-End Encryption

Chase Paymentech has announced a joint initiative with VeriFone and Semtek to provide end-to-end encryption technologies for merchants to combat threats to security. The companies said they "will work together to market and distribute VeriFone’s VeriShield Protect solution to the Chase Paymentech base of retail merchants. The end-to-end encryption solution is designed to help merchants reduce the costs to comply with Payment Card Industry (PCI) requirements and associated security risk by protecting card information from the point of swipe to the Chase Paymentech authorization host." READ MORE »

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