Wal-mart (WMT) Embraces Chase Pay (JPM)
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Chase announced today that Walmart (NYSE: WMT) will accept Chase Pay on Walmart.com, within the Walmart mobile application and in its stores through the Walmart Pay app.
Chase Pay allows customers to use the digital payment solution to purchase conveniently and securely in-store and online while earning rewards and receiving offers. Created for Chase Visa® credit and debit cards, Chase Pay protects the customer through token technology, which utilizes one-time complex codes to process transactions and keep the card information secure.
The companies last month expanded their relationship by announcing that Chase Visa card transactions at 5,000+ Walmart and Sam’s Club locations in the U.S. and at Sam’s Club ecommerce will process through ChaseNet, the bank’s closed-loop network. Both ChaseNet and Chase Pay are scheduled to go live with Walmart in 2017.
“We are excited about the opportunity to provide our customers with even greater convenience and value to our Walmart Pay app while expanding our relationship with Chase,” said Mike Cook, senior vice president and assistant treasurer for Walmart. “Adding Chase Pay as an option within Walmart Pay and online will create an enhanced experience for our customers.”
Walmart joins a list of high-profile merchants poised to accept Chase Pay, which is currently live on select merchant websites. Chase Pay will launch for mobile payment at participating merchant registers and a form of payment in select merchant apps later this year.
“We’re delighted to strengthen our ties with Walmart to deliver a seamless payment experience to our mutual customers,” said Jennifer Roberts, president of strategic alliances and loyalty solutions for Chase. “Walmart is a great partner that will provide customers yet another way to use Chase Pay for everyday shopping.”
Chase is the largest U.S. credit card issuer based on loans outstanding. Chase customers have more than 94 million consumer credit, debit and prepaid card accounts, and nearly 26 million actively use the award-winning Chase mobile banking app.
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