Chase Mobile Checkout

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  2. Chase Mobile Checkout App
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Chase Paymentech
TypePublic
IndustryMerchant services
Founded1985
HeadquartersDallas, Texas
ProductsPayment Processing Services
Websitewww.chasepaymentech.com

Chase Paymentech is the payment processing and merchant acquiring business of JPMorgan Chase (NYSE: JPM). Paymentech payment platforms support businesses of all sizes to process payments, including credit, debit, and digital, alternative, and mobile payment options. Paymentech can authorize payment transactions in more than 130 currencies. The company also provides business analytics, payment fraud detection, and data securitysolutions.[1]

In 2012, Chase Paymentech processed 29.5 billion transactions with a value of $655.2 billion.[citation needed]

History[edit]

1985: MNET, MBank's retail unit and merchant acquirer was founded.

1987: Acquired by Lomas Bank Corp.[citation needed]

Use Chase Mobile Checkout to accept payments on the go, anywhere in the U.S., at any time. When you have a merchant services account with Chase with Chase Mobile Checkout, our card reader and a supported mobile device, you are ready to begin accepting credit card payments on the go. After 15 minutes of inactivity, you will be required to login again. All passwords expire every 90 days and accounts that are inactive for an extended period may be. Chase Pay is a mobile payment platform developed by Chase, and is marketed as an alternative to other mobile phone payment methods such as Apple Pay, Android.

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.[citation needed]

1997: First USA acquired by Bank One.[citation needed]

1999: FDC acquires shares of Paymentech; merges with Bank One Payment Services.[citation needed]

2002: Acquires Scotiabank and Citibank CA merchant acquiring portfolio.[citation needed]

2004: European expansion begins; Dublin, Ireland location opens.[2]

2004: Bank One merges with JPMorgan Chase.

2005: Paymentech integrates with Chase Merchant Services.

2008: FDC and JPMorgan announce Paymentech joint venture to end.[citation needed]

2008: Chase Paymentech becomes the Merchant Services subsidiary of JPMorgan Chase.[citation needed]

Early History[edit]

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.[citation needed]

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[edit]

Chase Mobile Checkout

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, digital content, and government.

In June 2012, the firm announced the launch of their “future proof” payment terminals, which allows small businesses to accept current payment types, as well as the flexibility to accept emerging forms of customer payments, such as mobile wallets and contactless payment technologies.[citation needed]

Mobile payment processing[edit]

The firm offers products for merchants and small business owners to take payments in real time on mobile devices. Their Chase Mobile Checkout product, launched in May 2013, allows businesses to accept credit and debit cards via smartphone with their mobile app and card reader.[3]

Point of sale equipment[edit]

The firm provides payment terminals and PC services for credit card acceptance at point of sale. Some of the company’s products include iTerminal, ExaDigm XD2100SP Wireless, Hypercom T7Plus Series, Hypercom Optimum T4205, Hyp Ingenico 7780, VeriFone V 610 Wireless, VeriFone V 570 Dual Comm, VeriFone V 510 Dual Comm, and ECRi (Electronic Cash Register interface).[4]

Cyber Holiday Pulse Index[edit]

Every year, Chase Paymentech releases the Cyber Holiday Pulse Index, an annual measurement of online shopping activity during the holiday season, which tracks e-commerce spending across a sample of 50 leading e-retailers. The Index shows both sales volume and transaction count for online purchases across Chase Paymentech's global processing platforms.[5]

References[edit]

  1. ^'Chase Paymentech'. Authorize.net.
  2. ^'PAYMENTECH OPENS FIRST EUROPEAN OFFICE.(Paymentech L.P., opened an office in Dublin, Ireland, to support U.S. clients )'. Highbeam.com (Press release). Archived from the original on 2013-11-05.
  3. ^'Mobile Credit Card Processing Solutions'. Chase Paymentech. Retrieved 2014-06-24.
  4. ^'Point of Sale Equipment (POS Equipment)'. Chase Paymentech. Archived from the original on 2014-06-25. Retrieved 2014-06-24.
  5. ^'Online Shopping Spending Trends Pulse Index'. Chase Paymentech. Archived from the original on 2014-07-17. Retrieved 2014-06-24.
Retrieved from 'https://en.wikipedia.org/w/index.php?title=Chase_Paymentech&oldid=1001989369'
Chase Mobile Checkout now makes every sale possible.
byJPMorgan Chase

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Chase Mobile Checkout App

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Description

Accept credit cards for your business with your smartphone or tablet.
With a merchant services account and card reader from Chase and a smartphone or tablet, use Chase Mobile Checkout to accept payments on-the-go, virtually anywhere in the U.S., at any time.
Extend Your Business
• Be ready to take your customers’ payments when and where they are located.
• Take your business with you. Be able to process payments when you are away from your business, computer or credit card terminal.
• Allow additional employees to accept credit card payments on their smartphone or tablet.
Streamline Your Business
• Create a product catalog for easy checkout.
• Live, U.S. based, 24/7 telephone customer support.
• Have one payment processing relationship: Single statement, centralized reporting and one number to call for any issues.
• Customize your employees’ access.
Make It Easy For Your Customers
• Conduct faster transactions. If your customers are waiting in line, add an additional payment acceptance terminal with your smartphone or tablet.
• Bring the transaction to your customer. Allow your customers to pay anywhere in your store. Allow customers to pay for deliveries at the time of receipt.
• Send customers’ electronic receipts via email or text.
Help Protect Your Customers and Your Business
• Credit card information is encrypted at the time of the card swipe or insertion and during transmission and processing.
• Geo-location features allow you to determine the location of the transaction, which helps with dispute settlement. Location map is printed on receipt.
Take Your Business With You
• Easier reconciliation. View information about your Chase merchant services account from your smartphone or tablet.
• Search for individual transactions and review account activity.
• Process refunds and voids.
To process transactions, you must have a merchant services account with Chase, install the Chase Mobile Checkout app on your mobile device and use a mobile card reader from Chase. In order to pair your mobile device with the reader, it must meet minimum requirements of Android 6.0 and Bluetooth® 4.0. Businesses are required to complete an application and agree to terms and conditions at the time of enrollment. All businesses are subject to credit approval. Merchant services are provided by Paymentech, LLC (“Chase”), a subsidiary of JPMorgan Chase Bank, N.A.
There is no charge to download this app, but depending on your merchant service account terms, there may be charges associated with the purchase and shipment of the card reader. When using the app, message and data rates may apply. Such charges include, but are not limited to, those from your communications service provider. In addition, all applicable processing fees outlined in the merchant services contract with Chase will be assessed for all transactions initiated through the app.
Transaction processing may be interrupted for various reasons, including service outages affecting your smartphone or tablet, wireless or Internet provider, technology failures, and system capacity limitations.
Android is a registered trademark of Google Inc.
Recent changes:
• Bug fixes and security enhancements
• Add support for the new Android 11 release
Accept credit cards for your business with your smartphone or tablet.
With a merchant services account and card reader from Chase and a smartphone or tablet, use Chase Mobile Checkout to accept payments on-the-go, virtually anywhere in the U.S., at any time.
Extend Your Business
• Be ready to take your customers’ payments when and where they are located.
• Take your business with you. Be able to process payments when you are away from your business, computer or credit card terminal.
• Allow additional employees to accept credit card payments on their smartphone or tablet.
Streamline Your Business
• Create a product catalog for easy checkout.
• Live, U.S. based, 24/7 telephone customer support.
• Have one payment processing relationship: Single statement, centralized reporting and one number to call for any issues.
• Customize your employees’ access.
Make It Easy For Your Customers
• Conduct faster transactions. If your customers are waiting in line, add an additional payment acceptance terminal with your smartphone or tablet.
• Bring the transaction to your customer. Allow your customers to pay anywhere in your store. Allow customers to pay for deliveries at the time of receipt.
• Send customers’ electronic receipts via email or text.
Help Protect Your Customers and Your Business
• Credit card information is encrypted at the time of the card swipe or insertion and during transmission and processing.
• Geo-location features allow you to determine the location of the transaction, which helps with dispute settlement. Location map is printed on receipt.
Take Your Business With You
• Easier reconciliation. View information about your Chase merchant services account from your smartphone or tablet.
• Search for individual transactions and review account activity.
• Process refunds and voids.
To process transactions, you must have a merchant services account with Chase, install the Chase Mobile Checkout app on your mobile device and use a mobile card reader from Chase. In order to pair your mobile device with the reader, it must meet minimum requirements of Android 6.0 and Bluetooth® 4.0. Businesses are required to complete an application and agree to terms and conditions at the time of enrollment. All businesses are subject to credit approval. Merchant services are provided by Paymentech, LLC (“Chase”), a subsidiary of JPMorgan Chase Bank, N.A.
There is no charge to download this app, but depending on your merchant service account terms, there may be charges associated with the purchase and shipment of the card reader. When using the app, message and data rates may apply. Such charges include, but are not limited to, those from your communications service provider. In addition, all applicable processing fees outlined in the merchant services contract with Chase will be assessed for all transactions initiated through the app.
Transaction processing may be interrupted for various reasons, including service outages affecting your smartphone or tablet, wireless or Internet provider, technology failures, and system capacity limitations.
Android is a registered trademark of Google Inc.
Recent changes:
• Bug fixes and security enhancements
• Add support for the new Android 11 release
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