Chase Bank recently signed another national brand to accept its Chase Pay mobile wallet. IBS Intelligence reported:
The addition of a major chain like Shell is a huge boost for Chase Pay in the mobile payments battle against Apple Pay, Samsung Pay and Android Pay. Earlier this year, a deal was also struck with Starbucks to accept it at more than 7,500 stores in the US. Unlike its rivals, the solution can be used on pretty much any smartphone and added to that is the large number of potential customers Chase brings to the table. That being said, also unlike Apple Pay et al, which are NFC-based, it uses QR codes which have yet to take off Stateside.
This kind of momentum for Chase Pay will make it highly competitive and a contender to execute on the promise of mobile payment wallets Chase Pay is garnering national merchants and already has a built in stable of merchant clients that will be incented to accept Chase Pay. They also have a built in supply of consumer and small business cardholders. Although QR codes may not have the cool factor of NFC, It is available to just about every smart phone user. This will give current and future payment wallets a run for their money.
Overview by Sarah Grotta, Director, Debit Advisory Service at Mercator Advisory Group
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