Partnerships / Acquisitions

Best Buy Payment Now Accept Chase Pay

Chase announced on Wednesday (Sept. 14) that it inked a multi-year agreement with electronics retailer Best Buy in which it will accept Chase Pay in its stores, on its website and on the Best Buy app. Best Buy is the latest merchant to sign up to accept Chase Pay, which enables customers to make secure purchases while also giving them rewards.

“We’ll partner with Best Buy to deepen relationships with our common customers by integrating offers and rewards into the payment experience to deliver a seamless experience at the point of sale,” said Jennifer Roberts, president of strategic alliances and loyalty solutions for Chase, in a press release announcing the partnership.

“Our goal is always to make things easier for our customers and help them smoothly navigate the checkout process,” added Mark Williams, president of financial services for Best Buy, in the same press release. “Chase Pay provides an easy and safe way for customers to purchase the products they want.”

According to Chase, hooking up with Best Buy is a natural fit given that more than 70 percent of Americans live within 15 minutes of a Best Buy store. There are close to 1,400 Best Buy stores around the country. Chase noted that Best Buy is also a key member of the Merchant Customer Exchange (MCX), a strategic Chase Pay relationship. Chase Pay is live with select online merchants and will be available later this year for Chase customers to use at participating merchants’ registers and in apps.

The deal with Best Buy comes days after Chase reached an agreement with Google in which Android Chase customers can add their eligible Chase Visa cards, including Freedom, Slate, Sapphire, United Mileage Explorer and Hyatt Credit Card, to Android Pay. Customers can make contactless purchases in stores and via apps after they load their credit card into Android Pay.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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