![]() The company offers products aimed at multiple industry verticals, including e-commerce, retail, professional services, travel and lodging, restaurant, digital content, and government. Their product portfolio includes products to help merchants reduce payment fraud and manage chargebacks. In 2008, FDC and JPMorgan announced that their Chase Paymentech joint venture was coming to an end, and Chase Paymentech became the merchant services subsidiary of JPMorgan Chase Bank, N.A.Ĭhase Paymentech provides electronic payment processing products for businesses that accept credit, debit or gift cards from their customers. That year also saw the merger of Bank One and JPMorgan Chase. Ĭhase Paymentech opened its first European office in Dublin, Ireland in 2004. In 2002, Chase Paymentech acquired the merchant acquiring portfolios of Scotiabank and Citibank CA. In 2001, Paymentech completed the largest retail merchant conversion and launched its Orbital Gateway. That year, First USA was acquired by Bank One. In 1997, Chase Paymentech was created as a joint venture between Chase Merchant Services and First Data Corporation (FDC). Paymentech acquired Gensar, which later became Paymentech Network Services, Tampa, and Merchant Link in 1996. The brand Paymentech was created in the year 1996 and the IPO was executed in the same year. The expansions continued with further acquisition of Litle and DMGT in 1995. The company expanded by first acquiring JL McKay, a credit card software provider. Ģ008: Chase Paymentech becomes the Merchant Services subsidiary of JPMorgan Chase. Ģ004: Bank One merges with JPMorgan Chase.Ģ005: Paymentech integrates with Chase Merchant Services.Ģ008: FDC and JPMorgan announce Paymentech joint venture to end. Ģ004: European expansion begins Dublin, Ireland location opens. Ģ002: Acquires Scotiabank and Citibank CA merchant acquiring portfolio. ġ999: FDC acquires shares of Paymentech merges with Bank One Payment Services. ġ989: Becomes First USA Merchant Services.ġ996: Paymentech brand created and IPO executed.ġ997: Chase Merchant Services created as a joint venture between Chase and FDC. History ġ985: MNET, MBank's retail unit and merchant acquirer, was founded.ġ987: Acquired by Lomas Bank Corp. In 2012, Chase Paymentech processed 29.5 billion transactions with a value of $655.2 billion. In addition to this, the company provides business analytics, payment fraud detection, and data security solutions. Paymentech authorises payment transactions in more than 130 currencies. Paymentech payment platforms supports businesses to process payments. ( February 2016) ( Learn how and when to remove this template message)Ĭhase Paymentech is a payment processing and merchant acquiring business of JPMorgan Chase ( NYSE: JPM). Please help improve it by removing promotional content and inappropriate external links, and by adding encyclopedic content written from a neutral point of view. This article contains content that is written like an advertisement.
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