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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.

One Response to “Paymentech is going away”

  1. cheap small business merchant account June 22, 2008 at 2:39 pm

    So what effect will this have on the agents and ISO’s that have contracted to sell merchant accounts with them?