November 22, 2016
More than a year after it was announced, the Chase Pay app is available for download and customers can begin using the mobile app in stores to make contactless payments. While Chase Pay will be available as an online payment method—Walmart recently announced it would accept Chase Pay at Walmart.com in 2017—currently consumers can use it to pay only in stores at Starbucks and Best Buy. The company has deals in the works with Phillips 66, Conoco, ShopRite and the Fresh Grocer, in addition to Walmart, which will begin accepting Chase Pay in the future.
“Chase Pay is special because it’s the first digital payments solution that benefits both consumers and merchants,” said Jennifer Roberts, president of strategic alliances and loyalty solutions for Chase. “By focusing on merchant needs first—lower cost, zero fraud liability—we’ve got a real opportunity to break through the mobile payments noise.”
Chase Pay enables in-store transactions by scanning a QR code at the POS. It is being marketed to merchants as a low-cost payment alternative because of a unique arrangement in which Chase Pay transactions will run over Chase Net—a dedicated portion of Visa’s network rails that Chase is licensing.