Mike Duffy, president and CEO of JPMorgan’s Chase Paymentch subsidiary, passed away on Thursday at age 54 after a long battle with cancer and other illnesses.
Duffy worked in the payments industry for more than 25 years and was with Paymentech for more than 13 years. Before beginning his time as CEO in 2005, Duffy worked as CFO, COO and President for Paymentech, helping to further its reputation as an innovator within the space.
“It is difficult to put into words how much Mike will be missed,” said Gordon Smith, chief executive of Chase Consumer and Community Banking, in an e-mail to Chase employees. “He was a brilliant leader, pioneer in the payment industry and fierce competitor. Most importantly, I was proud to call him my friend. 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 was both extremely passionate and entirely grounded,” said Kevin G. Jones, a seven-year Paymentech veteran who is now president of SignaPay, an Irving, Texas-based independent sales organization. “Most every one of his employees knew him, and had a personal relationship with him. Mike’s real legacy is not just that he led Chase Paymentech to unmatched heights, but that he was a role model that inspired so many industry leaders to follow in his footsteps and lead with integrity, innovation, vision and true concern for the people around them.”
Chase did not reveal details of Duffy’s medical issues other than to say that he had been hospitalized since last week and died surrounded by family, according to digitaltransactions.net.
Dan Charron, executive president of client services, will serve as Chase Paymentech’s acting head.
The PYMNTS.com team and entire community would like to express our condolences on the loss of one of this industry’s great visionaries – Mike Duffy. His accomplishments over 25 years helped to reinvent the acquiring space and inspire others to do the same. Our thoughts and prayers are with his family during this difficult time, and our best wishes are with his successor, Dan Charron.
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