JPMorgan Chase & Co. (NYSE: JPM) has hired Jack Stephenson, a payments industry veteran, as its new Director of Mobile, E-Commerce and Payments. Stephenson, who had previously served as the Senior Vice President of Strategy, Partnerships, Analytics and New Ventures at PayPal, will develop a mobile devices and internet payments strategy for the bank.
“We know how important technology has become in serving our customers well, and Jack has the experience, expertise and vision to help us do even more for them,” said Jay Mandelbaum, the firm’s head of Strategy and Development. “He will focus primarily on developing new products and services for consumers, merchants and small businesses.”
Chase currently serves 28 million customers online and more than 3.3 million mobile banking customers, a number which grows by about 600,000 new accounts each month.
“We will build on JPMorgan Chase’s tremendous strengths across cards, merchant services, consumer and business banking, and commercial payments,” said Stephenson. “Rapid changes in mobile, internet, and information technology create opportunities to leverage these assets in new and exciting ways for customers.”
Currently chase has more than 10,000 deposit-friendly ATMs, a service called “Blueprint” which aims to help consumers get better control of their finances, an “Instant Action Alerts” service which provides SMS alerts when certain account triggers are reached and a P2P “QuickPay” service which allows users to send money via email.
