Chase Pay Gains Ground with Walmart Deal

Walmart has expanded its relationship with JPMorgan Chase & Co. to add Chase Pay as a mobile checkout option.Chase Pay will be accepted on walmart.com, the retailer’s mobile application, and in the mass merchant’s stores though the app’s Walmart Pay service. Various reports set the timetable for rollout between later this year and sometime in 2017.Earlier this fall, Chase had indicated it would also take over the processing of credit and debit payments at Walmart stores, sister-chain Sam’s Club locations and samsclub.com. Chase had already processed payments for walmart.com.As Chase gets more of Walmart’s business, the mass merchant continues feuding with Visa. The giants sued each other after Walmart eliminated the signature option for authorizing debit transactions at its stores to avoid fraudulent transactions without informing the payment company.Walmart is following on the heels of Best Buy and Shell Oil, the first two Merchant Customer Exchange members to sign up with Chase Pay after the consortium abandoned its own mobile payment solution. Chase Pay also recruited Starbucks and this summer went live with a small selection of e-tailers.The service’s rollout, and mobile payment adoption in general, has gone more slowly than expected. Reuters reported that chief executive officer for cards at JPMorgan Kevin Watters predicted payments with smartphones and digital wallets probably won’t account for even 1% of transactions “for a while,” but that the bank is making sure its cards are an option when it does.As retailers continue to sort out payment options, reports indicate Chase Pay stands apart from other options by promising support for their respective loyalty programs.

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