Chase Paymentech is a payment processing and merchant acquiring business of JPMorgan Chase (NYSE: JPM). Paymentech payment platforms supports businesses to process payments. Paymentech authorises payment transactions in more than 130 currencies. In addition to this, the company provides business analytics, payment fraud detection, and data security solutions. In 2012, Chase Paymentech processed 29.5 billion transactions with a value of $655.2 billion. History 1985: MNET, MBank's retail unit and merchant acquirer was founded. 1987: Acquired by Lomas Bank Corp. 1989: Becomes First USA Merchant Services. 1996: Paymentech brand created and IPO executed. 1997: Chase Merchant Services created as a joint venture between Chase and FDC. 1997: First USA acquired by Bank One. 1999: FDC acquires shares of Paymentech; merges with Bank One Payment Services. 2002: Acquires Scotiabank and Citibank CA merchant acquiring portfolio. 2004: European expansion begins; Dublin, Ireland location opens. 2004: Bank One merges with JPMorgan Chase. 2005: Paymentech integrates with Chase Merchant Services. 2008: FDC and JPMorgan announce Paymentech joint venture to end. 2008: Chase Paymentech becomes the Merchant Services subsidiary of JPMorgan Chase. Early history The company expanded by first acquiring JL McKay, a credit card software provider. The expansions continued with further acquisition of Litle and DMGT in 1995. The brand Paymentech was created in the year 1996 and the IPO was executed in the same year. Paymentech acquired Gensar, which later became Paymentech Network Services, Tampa, and Merchant Link in 1996. In 1997, Chase Paymentech was created as a joint venture between Chase Merchant Services and First Data Corporation (FDC). That year, First USA was acquired by Bank One. In 2001, Paymentech completed the largest retail merchant conversion and launched its Orbital Gateway. In 2002, Chase Paymentech acquired the merchant acquiring portfolios of Scotiabank and Citibank CA. Chase Paymentech opened its first European office in Dublin, Ireland in 2004. That year also saw the merger of Bank One and JPMorgan Chase. In 2008, FDC and JPMorgan announced that their Chase Paymentech joint venture was coming to an end, and Chase Paymentech became the merchant services subsidiary of JPMorgan Chase Bank, N.A. Products and services Chase Paymentech provides electronic payment processing products for businesses that accept credit, debit or gift cards from their customers. Their product portfolio includes products to help merchants reduce payment fraud and manage chargebacks. The company offers products aimed at multiple industry verticals, including e-commerce, retail, professional services, travel and lodging, restaurant,