JPMorgan Chase & Co. and First Data Corp. announced today that they have completed the agreement to integrate the companies’ jointly owned Chase Merchant Services and Paymentech merchant businesses, to be operated under the name of Chase Paymentech Solutions, LLC. The joint venture will be owned in the aggregate — 51 percent by Chase and 49 percent by First Data. Oversight will be provided through a board on which the owners will be equally represented.
Chase Paymentech Solutions will be directed by a combined executive team led by Michael P. Duffy, Paymentech’s current president and chief executive officer. Duffy brings two decades of payments industry experience to this role.
View this content by subscribing
Please register to unlock this content
I already have an account. Log in
