Paymentech Inc. has named Richard W. Vague chairman of its board of directors and has promoted Kathryn J. Kessler to chief financial officer.
Mr. Vague is chairman and chief executive officer of First USA Bank. Paymentech is a unit of First USA, the credit card issuer purchased by Bank One Corp. in June 1997.
Ms. Kessler has been chief accounting officer of Paymentech since joining the company in 1996.
Mr. Vague served on the board of Paymentech, the country's third-largest payment processor, from 1996, when the company went public, until December 1997.
Paymentech announced earnings Thursday of $5 million, or 14 cents per share, for the third quarter. Last year's earnings for the same period were $3.8 million, or 11 cents per share.
Bank card sales volume increased 16% during the quarter, and transaction volume increased 31% over the same quarter in 1997, the company said.