JPMorgan Chase are making their own mobile payments app called Chase Pay
Aren’t a fan of Samsung Pay, Apple Pay, or Android Pay? Well, you are in luck. JPMorgan Chase are creating their own mobile payment option called Chase Pay, which will go live sometime in mid-2016.
Chase executive Gordon Smith says:
“Chase Pay will initially work for consumers that already have Chase credit, debit, and prepaid cards, Smith told Reuters in an interview. There are about 94 million of those cards outstanding now in the United States, and the bank has more spending on them than any other issuer. The app will work on Apple and Android-based phones.”
Chase and Merchant Customer Exchange (MCX) have joined together to handle the mobile payments. You may have heard of MCX before, they are a group of large retailers such as Walmart and Best Buy. MCX also uses QR codes to work instead of NFC. We would imagine Chase Pay will be taking on the same system.
Source: Reuters
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