Chase Paymentech Overview
Chase Paymentech is the payment processing division of U.S. banking giant JPMorgan Chase. The company is a very large direct processor that processes over 30 billion transactions per year in over 130 countries worldwide. It has been operating under the Chase Paymentech name since 2008, following the termination of a joint venture between Chase and First Data. Chase Paymentech serves merchants both through its direct sales channels and as the backend processor for numerous ISOs across the country.
Chase Paymentech offers all of the products and services that might be expected of a large direct processor, including credit card terminals, point-of-sale solutions, an online payment gateway and virtual terminal, mobile phone payment processing, recurring billing, ACH processing, and online sales reporting. The company offers 24/7 customer support by phone and a knowledge base for its users. Mike Passilla is the CEO of Chase Merchant Services, a larger division within Chase that contains Chase Paymentech.
At a glance
Location: Dallas, Texas
Acquiring bank: JPMorgan Chase
Phone number: 800-934-7717
Chase Paymentech Promotional Video
Online reputation and reviews
Unlike most other direct processors, Chase Paymentech has received fewer than 100 negative reviews from merchants online. The available complaints about the company cite Paymentech’s three-year contract, early termination fee, unexpected monthly and annual fees, and poor chargeback support. Chase’s relatively low complaint total is an impressive achievement for a company that not only boards a huge number of merchants through its direct sales channels every year, but also trusts smaller ISOs and sub-ISOs to resell its products.
Legal actions and lawsuits
There are no outstanding or recently resolved legal actions related to Chase Paymentech at this time.
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