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Chase Announces Digital Wallet ‘Chase Pay’ For June 2016: Success or Failure?

At the Money 20/20 event held recently in Las Vegas, America’s largest bank by assets JPMorgan Chase & Co. announced the launch of its own digital wallet dubbed Chase Pay. It is scheduled for launch during mid-2016. MCX—which includes retailers such as Walmart, Target, Best Buy and Shell—will be Chase Pay's premier partner. Chase Pay will now be entering the race with Apple Pay, Android Pay and Samsung Pay. Chase Pay is stated to provide a better payments experience to millions of customers, processing 34 million transactions each day on an average with Chase banking.

One out of every two households in the US is a Chase customer. All Chase customers will be able to use Chase Pay to pay online, in-store and in-app payments. In certain locations, like restaurants, consumers will be able to use their smartphone to take a picture of a receipt an ...

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