JPMorgan (JPM) Says Best Buy (BBY) Will Accept Chase Pay

September 14, 2016 8:07 AM EDT

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Chase has signed a multiyear agreement for Best Buy (NYSE: BBY) to accept Chase Pay in its stores, on BestBuy.com and in the Best Buy app, the company announced today.

Best Buy joins a host of merchants in signing up to accept Chase Pay, which gives Chase customers an easy, secure and rewarding way to pay for purchases. Best Buy is a leading provider of technology products, services and solutions to consumers and small business owners.

“We’ll partner with Best Buy to deepen relationships with our common customers by integrating offers and rewards into the payment experience to deliver a seamless experience at the point of sale,” said Jennifer Roberts, president of strategic alliances and loyalty solutions for Chase.

“Our goal is always to make things easier for our customers and help them smoothly navigate the checkout process,” added Mark Williams, president of financial services for Best Buy. “Chase Pay provides an easy and safe way for customers to purchase the products they want.”

More than 70 percent of Americans live within 15 minutes of one of Best Buy’s nearly 1,400 U.S. stores. Best Buy is also a key member of the Merchant Customer Exchange (MCX), a strategic Chase Pay relationship.

“MCX merchants use our solutions to bring choice and options to consumers across the U.S.,” said Brian Mooney, CEO of MCX. “The collaboration among MCX, Best Buy and Chase demonstrates the value of MCX’s core concept: linking top merchants like Best Buy with financial institutions like Chase for the benefit of Best Buy, their customers and Chase cardholders.”

Chase is the largest U.S. credit card issuer based on loans outstanding. Chase customers have more than 90 million consumer credit and debit card accounts, and nearly 24 million actively use the award-winning Chase mobile banking app.

Chase Pay is live with select online merchants and will be available later this year for Chase customers to use at participating merchants’ registers and in apps.



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