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Nickatilynx · 10-06-2005

FIRST DATA, CHASE AGREE TO INTEGRATE MERCHANT ACQUIRING BUSINESSES: First Data Corp. and JP Morgan Chase & Co. announced late this afternoon they will integrate their companies' jointly owned Chase Merchant Services and Paymentech merchant acquiring businesses. The new firm will operate under the name Chase Paymentech Solutions LLC, with Chase owning 51% and First Data 49%. Michael P. Duffy, Paymentech's president and CEO, will lead the combined firm. Chase Paymentech has entered into a five-year processing deal with First Data Merchant Services. The new firm says it will process about 13.1 billion transactions worth over $500 billion in annual bank card volume in the U.S. and Canada. As part of the deal, Chase will continue to use First Data's Star network to process a "component" of Chase's business.

This might not be good for adult processing....

10-06-2005	#1
Nickatilynx Banned Want to see your own Advertising Here! Join Date: Oct 2002 Location: Vancouver Canada Posts: 15,115	Merger of Paymentech.... Epoch? FIRST DATA, CHASE AGREE TO INTEGRATE MERCHANT ACQUIRING BUSINESSES: First Data Corp. and JP Morgan Chase & Co. announced late this afternoon they will integrate their companies' jointly owned Chase Merchant Services and Paymentech merchant acquiring businesses. The new firm will operate under the name Chase Paymentech Solutions LLC, with Chase owning 51% and First Data 49%. Michael P. Duffy, Paymentech's president and CEO, will lead the combined firm. Chase Paymentech has entered into a five-year processing deal with First Data Merchant Services. The new firm says it will process about 13.1 billion transactions worth over $500 billion in annual bank card volume in the U.S. and Canada. As part of the deal, Chase will continue to use First Data's Star network to process a "component" of Chase's business. This might not be good for adult processing....