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Table of Contents

Lead Story

Mobile payments 2013 - Part 1

News

Industry Update

Bergeron steps down at VeriFone

New battles erupt in mobile wallet wars

LevelUp reaches 1 million users

Farewell to Mike Duffy

Trade Association News

Features

Research Rundown

Selling Prepaid

Selling Prepaid

Prepaid Expo features ducks on a pond

ISO opportunities at Prepaid Expo

Views

No changes in line for debit caps

Patti Murphy
ProScribes Inc.

Education

Street SmartsSM:
Don your 'brown shoes' and differentiate yourself

Jeff Fortney
Clearent LLC

Be a true expert adviser

Daniel Wadleigh
Marketing Consultant

The rewards of lean thinking

Dale S. Laszig
Castles Technology Co. Ltd.

It's time to change the conversation

Adam Moss
Charge Card Systems Inc.

Company Profile

projectprepaid

New Products

Big data for SMB market

Tranzlogic
Tranzlogic

Cloud-based business manager

Starter program
PaySimple

Inspiration

How are other people influencing you?

Departments

Readers Speak

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

March 25, 2013  •  Issue 13:03:02

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Farewell to Mike Duffy

Michael Duffy, 54, President of Chase Paymentech Solutions LLC since 2000, passed away March 7, 2013. Duffy died after a long illness, but no details about the condition were released. In a press release following his death the company said, "Mike's leadership was marked by passion, authenticity and integrity.

"He was a brilliant leader and a pioneer in the payments industry. Mike forged strong connections with his people - across the entire organization. He possessed a unique mix of strategic vision and pragmatic, real-world understanding of our systems, capabilities and the employees, knowing they were the cornerstone of the business."

Duffy was the Chief Financial Officer at bankcard processor Litle & Co. prior to its acquisition by Chase Paymentech. He was noted for leading the development of technology innovations and risk management practices that are now used throughout the payments industry. He also served on the advisory boards of Visa Inc., MasterCard Worldwide, PayPal Inc.'s Bill Me Later, platform-as-a-service provider IP Commerce Inc., the Direct Response Forum and the Merchant Risk Council.

A brilliant, passionate leader

Gordon Smith, Chief Executive Officer of Chase Consumer and Community Banking, said it is difficult to put into words how much Duffy will be missed. He recalled his former colleague as a brilliant leader, pioneer in the payments industry and fierce competitor. "Most importantly, I was proud to call him my friend," Smith stated.

"His passion and tenacity was exemplified in so many aspects of his life, from his battles against personal illness to how he led his team and established Paymentech as a global industry leader. ... Mike forged strong connections with his people - across his entire organization. Most of the Paymentech management team has been together for 20 years - almost unheard of in this business. ... We will all miss him tremendously."

Electronic Transactions Association CEO Jason Oxman said, "The payments industry has lost one of its true luminaries with the death of Mike Duffy. For more than 20 years, his passionate leadership of Chase Paymentech brought new technology and innovation to our industry while bringing merchants and their customers amazing new benefits."

A legacy to honor

A Chase Paymentech spokesman said, "As Mike would expect, we will remain focused on serving our customers and our full slate of projects and initiatives. In his own unassuming way, Mike helped so many in our community and touched others with his wisdom and wit. He will be missed."

Smith noted that one of the "many legacies Mike leaves is a strong and experienced leadership team." Smith added that, effective immediately, Dan Charron, Chase Paymentech Executive President of Client Services, would become the company's acting president, taking on the day-to-day leadership of the business.

"Dan will be a terrific leader to honor Mike's legacy and continue Paymentech's special culture and remarkable growth. We send our thoughts and deep condolences to Mike's family and loved ones as well as our Paymentech colleagues."

For additional news stories, please visit www.greensheet.com and click on "Read the Entire Story" in the center column below the latest news story excerpt. This will take you to the full text of that story, followed by all other news stories posted online.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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