Commenting on the appointment, Chase Consumer & Community Banking CEO Gordon Smith said, "Merchants represent an important client base for Chase, and we want to bring together our full suite of leading services for merchants under one organization."
With 23 years of payments and technology industry expertise, Passilla was working as president and CEO with payments processing firm Elavon before joining Chase.
Prior to Elavon, he held significant management positions at Inforte Corp, the CSC Index and IBM.
The company has also appointed Dan Charron as the president of Chase Paymentech and will report to Passilla.
Charron has been serving as the acting head of Chase Paymentech since March and prior to that he worked as the head of Client Services.
Around 29.5 billion transactions worth $655.2bn were processed by Chase in 2012, which also includes an estimated half of all global Internet transactions.
The firm operates as the US consumer and commercial banking business of JPMorgan Chase & Co with assets of $2.4 trillion and operations in more than 60 nations.
