The desire to lead in retail and mobile payments is almost as strong as the desire not to fall behind competitors, and a new partnership between Chase and P97 Networks may help both companies get to the head of the pack — or at least not fall to the back of it.
Chase and P97 Networks announced Wednesday (Oct. 28) that they had joined together to bring Chase Pay functionality to gas stations and in-store purchases. Donald Frieden, president and CEO of P97, explained that the two companies' respective exposure in mobile commerce and payments service will allow the partnership to start off on a well-supported foot.
“With the combination of P97’s PetroZone mobile commerce platform and Chase Pay we are thrilled to deliver more payment options to consumers at the pump,” Frienden said in a statement. “We are confident this combined solution will deliver an innovative mobile payment experience for the retail fuels market customer.”
The announcement bookends a busy month for P97, which began October with another windfall partnership with Verifone Systems.
Dan Yienger, senior vice president and general manager of petroleum for Verifone, explained how his organization had integrated P97's mobile commerce strategies and capabilities with its in-store POS systems for a truly streamlined experience.
“Through our partnership with P97, our RubyCi and Commander Site Controller clients can automatically connect to P97’s PetroZone cloud services,” Yienger said in a statement. “This means that our technology not only streamlines payments and operations management, but also offers gas stations and convenience stores a fast-track to introducing new mobile payment and digital marketing experiences for their customers.”
Of course, Chase isn't bereft of benefits in the deal. The financial services firm gains a larger digital footprint in the mobile payments world via P97's networks, which should prepare them well for any growth in the mobile payments-at-the-pump field.
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