Let's Talk More About Chase Pay: New Life for MCX, but What Else?

At the Money20/20 conference held recently in Las Vegas, America’s largest bank by assets JPMorgan Chase & Co. announced the launch of its own digital wallet called Chase Pay. Described as a closed loop network, Chase Pay will allow Chase’s 94 million credit, debit and pre-paid card customers to make in-store, in-app and online purchases, beginning 2016. To power its mobile payments, Chase has partnered with the Merchant Customer Exchange (MCX), which is a group of retail and oil giants Walmart, Target, Best Buy and Shell. Chase Pay will now be entering the race with Apple Pay, Android Pay and Samsung Pay and stated to provide a better payments experience to millions of customers, process ...

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