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Company History |
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Milestones along the way to success |
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2007 - In the first quarter, Chase Payment expanded its Dublin based European operations
as a major step in a comprehensive strategy that will encompass a series of global and
cross-border initiatives.
2006 - Chase Paymentech was acknowledged as the world's largest merchant acquirer by The Nilson Report. In a landmark year, the company processed approximately 18.2 billion transactions,
with more than $660.6 billion in annual bankcard and debit volume.
2005 - Paymentech, L.P. and Chase Merchant Services, integrate to form Chase Paymentech
Solutions, LLC. Chase Merchant Services was a joint venture between Chase Merchant Ventures, Inc., a subsidiary of JPMorgan Chase
Bank, N.A., and First Data Merchant Services, Corp., a subsidiary of First Data Corp.
2004 - Bank One Corporation merges with J.P. Morgan Chase & Co., and J.P. Morgan Chase becomes the
majority owner of Paymentech, L.P.
2004 - Paymentech opens European headquarters in Dublin, Ireland.
2002 - Bank One and First Data acquire Canadian merchant portfolios of Scotiabank and Citibank Canada. The
Toronto-based operations become an affiliate of Paymentech, L.P.
2000 - Mike Duffy, formerly of Litle and Company and most recently the Chief Operating Officer of
Paymentech, is named president and CEO of Paymentech.
1999 - First Data Merchant Services acquires the public shares of Paymentech, Inc. and Paymentech's
merchant acquiring business is combined with the merchant acquiring business of Banc One Payment Services, LLC (First Data
Corporation merchant bank alliance with Bank One Corporation). The combined businesses, operating under the Paymentech name, are
jointly owned by First Data and Bank One.
1997 - Paymentech, Inc. acquires Merchant-Link, Inc. Bank One Corporation acquires First USA, Inc., and
Bank One Corporation becomes the majority shareholder of Paymentech, Inc.
1997 - First USA Paymentech, Inc. and First USA Merchant Services, Inc. become Paymentech, Inc. and
Paymentech Merchant Services, Inc.
1997 Chase Merchant Services, L.L.C. is created as an alliance between First Data Merchant Services and
The Chase Manhattan Bank.
1996 - First USA Paymentech, Inc. acquires a front-end processing company called GENSAR Holdings, Inc.,
subsequently renamed Paymentech Network Services.
1996 - First USA Paymentech, Inc., parent of First USA Merchant Services, Inc., completes its initial
public offering and begins trading on the New York Stock Exchange under the symbol PTI.
1995 - The largest direct marketing independent sales organizations in the U.S., Litle and Company and
DMGT, are combined and ultimately become Paymentech New Hampshire in 1996.
1989 - After another ownership change, Lomas Merchant Services Corp. is renamed as First USA Merchant
Services, Inc.
1987 - After an ownership change, MPACT is renamed Lomas Merchant Services Corp.
1985 - Paymentech founded as MPACT Merchant Services Corp., the payment processing unit of Dallas-based
Mcorp.
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