you are here: HomeNewsBusiness

JPMorgan’s digital wallet Chase Pay to be pulled off merchant sites by March-end

The bank discontinued the Chase Pay app – mostly used in stores – in 2019, after it emerged that customers preferred paying by card

March 10, 2021 / 04:00 PM IST
Notably, till mid-2019 less than 1 percent online merchants hosted Chase Pay compared to 70 percent acceptance of PayPal (File Image)

Notably, till mid-2019 less than 1 percent online merchants hosted Chase Pay compared to 70 percent acceptance of PayPal (File Image)

JPMorgan Chase’s digital wallet Chase Pay will be removed from all merchant apps and websites by March 31, 2021, the company said in a notice on its website.

“Chase Pay will be removed from all merchant apps and websites by 3/31/21. Below is a complete list of merchants currently accepting Chase Pay. You can always add your Chase cards individually to your favourite shopping sites and apps,” the notice said.

This comes a year after the bank shut the digital wallet’s mobile application, Bloomberg noted.

The bank said acceptance of the product by merchants did not pick up as expected, the report said, adding that PayPal continues to be the preferred option for online retailers.

“As technology has evolved, so has our strategy for integration at the merchant point of sale. We are incorporating the most popular features directly into the Chase mobile app and Chase.com, including paying with points and logging receipts,” Pablo Rodriguez, spokesperson for JPMorgan Chase told Bloomberg.

Close

“(We are) working closely with our merchant clients on ways to integrate our digital experiences within their own respective sites," he added.

Chase Pay was launched in 2015 as a “challenge” to then recently debuted Apple Pay, and Visa, Mastercard and American Express’ respective payment network buttons, but it never took off, the report noted.

The bank discontinued the Chase Pay app – mostly used in stores – in 2019, after it emerged that customers preferred paying by card. It had said the service would continue on websites and retailer apps.

Notably, till mid-2019 less than 1 percent online merchants hosted Chase Pay compared to 70 percent acceptance of PayPal, a study by industry publication Pymnts.com showed.
Moneycontrol News
first published: Mar 10, 2021 04:00 pm

stay updated

Get Daily News on your Browser
Sections