Chase Paymentech is a payment processing company and a subsidiary of JPMorgan Chase & Co., one of the largest financial institutions in the United States. In the context of the payment card industry (PCI), Chase Paymentech is a prominent player providing comprehensive payment processing solutions to businesses of all sizes.
Chase Paymentech specializes in facilitating electronic payment transactions, particularly those involving credit and debit cards. Their services enable businesses to accept and process payments securely from customers using various payment methods, including traditional magnetic stripe cards, chip-enabled cards, and digital wallets.
As a financial organization operating in the payment card industry, Chase Paymentech adheres to the Payment Card Industry Data Security Standard (PCI DSS). PCI DSS is a set of security standards established by major card brands (Visa, Mastercard, American Express, Discover, and JCB) to ensure the secure handling, storage, and transmission of cardholder data. Compliance with PCI DSS is mandatory for organizations that handle payment card information.
Chase Paymentech supports businesses in achieving and maintaining PCI DSS compliance by providing secure payment processing solutions that meet the stringent security requirements of the industry. This includes offering secure payment gateways, encryption technologies, tokenization, and fraud prevention tools.