May 29th, 2008 by Jamie Estep
Paymentech is going away
Filed in: Industry News | 1 comment
The owners of Paymentech, JPMorgan Chase and First Data have decided to dissolve Paymentech into their own operations. JPMorgan will take 51% and the remainder will be merged into First Data.
Both companies have committed to a no-disruption transition so existing Paymentech customers (1Million+) should not see any major change in their processing service.
So what effect will this have on the agents and ISO’s that have contracted to sell merchant accounts with them?