JPMorgan closes Chase Pay

JPMorgan closes Chase Pay

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JPMorgan Chase is finally killing off its Chase Pay digital wallet technology, removing the payment method from all merchant apps and websites by the end of the month.

Chase Pay began life in 2015 as a QR-code based app that was inherited from failed retailer programme Current-C. The bank saw the app as a tool to help it fight back against tech giants Apple, Google and Samsung in a crowded mobile money arena.

However, despite a multi-year effort, involving north of $100 million in investment, the app delivered minimal returns and was shut down in early 2020.

At the time, JPMorgan Chase said it would instead focusing on integrating the technology into the apps and websites of merchants such as Starbucks and Walmart.

However, in a notice on its site, the bank now says Chase Pay will be removed from these sites and apps by the end of March. Customers are being advised to add their cards to their preferred merchant apps or PayPal.

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