Chase Freedom Rewards Users for Using Mobile Wallets
Chase is paying their customers to make transactions on their mobile wallet.
The company announced that Chase Freedom cardholders will receive an additional 5% in cash back rewards during the first quarter of 2018 when they pay with a mobile wallet, including Android Pay, Apple Pay, Chase Pay, and Samsung Pay.
Chase Freedom customers already receive 5% cash back on purchases at gas stations and on Internet/Cable phone services during the upcoming quarter. All other purchases receive 1% cash back.
Chase Freedom General Manager BJ Mahoney said Chase wants cardmembers to try the convenience of mobile wallets. “They can maximize their rewards not only by paying for necessities, but also by splurging, like for their favorite coffee, when using a mobile wallet.”
Mobile wallets are not only convenient, they are also safer than traditional payment methods. Instead of transmitting your payment card information across the payment system, a mobile wallet pays for goods and services with a dynamic payment token. Even if a payment card system is hacked, as Chipotle was earlier this year, a user’s credentials will not be stolen if they pay with a mobile wallet.
Some express concerns about the security of their payment card information if someone steals their smartphone, but mobile wallets can be secured with your fingerprint, a security code, or FaceID on the new iPhone X. Even if someone can unlock your phone, not all of your credentials are stored on the phone.
Users must enroll to earn these additional rewards on Chase’s website.