Chase Pay hasn’t launched yet for in-store or in-app payments, but it already has support from a major gas station chain.
JPMorgan Chase announced yesterday (June 9) that it secured a multi-year deal with Shell to accept Chase Pay at all of its gas stations. When it officially launches beyond the eCommerce option later this year (date TBD), it will serve as an app that will enable consumers to pay at the pump using their phone — without having to pull out a credit card.
The details of Chase Pay were first announced last October, when the company revealed it would be rolling out a mobile/digital closed-loop network of merchants and consumers. One of its key differentiators is its embrace of a “merchant-friendly” value proposition in the form of favorable payments economics, integration of existing merchant loyalty programs into its mobile payments platform and its indemnification of the merchant against any consumer-initiated fraud.
It was then that Chase announced the rollout would happen with the mobile-only, merchant-friendly network MCX. There’s no indication of if or how that relationship will change in light of MCX announcing it would be shutting down its CurrentC mobile wallet service on June 28.
Now, as part of its new deal with Shell, it appears Chase is on its way to securing more support for its mobile wallet service that’s likely to be launched into market soon. And it’s got one major goal with this mobile payments play: loyalty. Chase Pay will also integrate Shell’s Fuel Rewards program.
“As industry leaders, we will work together to change how consumers purchase fuel, ultimately driving more brand loyalty,” said Jennifer Roberts, president of strategic alliances and loyalty solutions for Chase.
Chase Pay is designed to eliminate fraud risks for merchants by running on a closed-loop platform called ChaseNet and is currently built into some eCommerce merchant websites. The in-app and in-store payment option will be available later this year for Chase customers.
“We recognize consumers are looking to mobile solutions for everyday needs, including shopping, travel, restaurant reservations and more,” said Craig Schneider, Shell GM and vice president of retail marketing North America. “Adding Chase Pay to the multiple payment methods Shell accepts will deliver a simplified, differentiated and personalized customer experience while driving loyalty.”