The Washington D.C. Department of Employment Services will be paying young participants in its summer jobs program via JPMorgan-issued Visa payroll debit cards. The agency says it has deployed the payroll card program as a means to provide its young workers with a safe, convenient, and dependable alternative to payroll checks, as well as reduce the costs and time associated with issuing paper payroll checks.   » Continue Reading

Chase has announced Chase Exclusives - calling it "one of the banking industry’s widest ranging package of rewards" to encourage its checking account customers to expand their relationship with the bank. "Chase Exclusives provides all Chase checking accounts holders with better rates, more rewards and bigger discounts on nearly all other products offered through the branch."   » Continue Reading

JPMorgan Chase and First Data Corp. have announced that they have agreed to end their current joint venture, Chase Paymentech Solutions, a global payments and merchant acquiring entity, by the end of 2008.   » Continue Reading

JPMorgan has announced it has been ranked as the number-one financial institution in total automated clearing house (ACH) network transactions originated for 2007 by NACHA – The Electronic Payments Association. The bank has ranked first in ACH originations for a record 33 years in a row, since the inception of the network. JPMorgan saw its ACH transactions grow to nearly 4 billion in 2007, an increase of nearly 9 percent over the previous year.   » Continue Reading

With that subtitle, Chase has officially launched Chase Mobile, saying it's the "first major US bank to introduce mobile banking using cell phone text messaging to give customers account information on demand."   » Continue Reading

Jim Bruene and Brandon McGee blog about Chase Mobile, an SMS-based mobile banking service from JP Morgan Chase.

In a discussion about mobile security, Chase says that "Chase Mobile is not a mini-version of Chase Online. Rather, it's a text messaging service from Chase that gives you 24-hour access to view your balances, transaction history, credit card payment due date and amount without having to log on." It goes on to say that Chase Mobile will not allow you to complete transactions over your mobile device or cell phone. The emphasis is on ease of use (e.g., no logon) for information access only.

JPMorgan Chase Commercial Card Solutions sent along the following article about how to take full advantage of purchasing card programs. "Companies around the world have implemented purchasing card programs to help reduce processing fees and simplify the way they do business. But once a PCard program is in place, what can a company do to increase volume and further drive efficiencies and savings? Jim Nelson, Senior Product Consulting Manager for JPMorgan Chase Commercial Card Solutions, recently sat down with purchasing card coordinators from three very diverse industries to learn what tactics users are taking to increase their PCard volume and adoption rate."   » Continue Reading

Michael Flaherty reports for Reuters about "a chill on relations between JPMorgan and Kohlberg Kravis Roberts & Co." related to KKR's plan to acquire First Data Corp.

JPMorgan Chase Bank and Xign Corporation have announced that "they have signed an Agreement and Plan of Merger whereby Xign, a leading provider of business-to-business on-demand financial settlement solutions, will be acquired and combined with the Commercial Card and Procurement businesses of JPMorgan Chase’s Treasury Services unit. Under the Agreement and Plan of Merger, JPMorgan Chase will acquire all of the capital stock of Xign, as well as the company’s technology, services and Order-to-Pay domain expertise. The acquisition is expected to close in the second quarter of 2007, subject to regulatory approval. Terms have not been disclosed."   » Continue Reading

JPMorgan Chase has announced it has been ranked as the number-one financial institution in total automated clearing house (ACH) network transactions originated for 2006 by NACHA – The Electronic Payments Association. The Bank has ranked first in ACH originations for a record 32 years in a row, since the inception of the network. JPMorgan Chase saw its ACH transactions grow to nearly 3.6 billion in 2006, an increase of 16 percent over the previous year.   » Continue Reading