Chase Pay Coming to Best Buy
Thanks to a multiyear agreement with JPMorgan Chase, Best Buy will now accept Chase Pay in its stores, on its website and through its app.
Chase Pay allows customers to pay with their phones at the register instead of using a debit or credit card, which can increase transaction security.
“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.
“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. “Chase Pay provides an easy and safe way for customers to purchase the products they want.”
Both Chase and Best Buy service many Americans, so consumers should benefit from this new partnership. Based on loans outstanding, Chase is the largest credit card issuer with more than 90 million credit and debit card accounts. Nearly 24 million people use the Chase mobile banking app.
Best Buy has nearly 1,400 U.S. stores, and 70% of Americans live within 15 minutes of one. The technology retailer is also a member of the Merchant Customer Exchange (MCX), which includes other major retailers such as Walmart and Target.
“MCX merchants use our solutions to bring choice and options to consumers across the U.S.,” said Brian Mooney, CEO of MCX. “The collaboration among MCX, Best Buy and Chase demonstrates the value of MCX’s core concept: linking top merchants like Best Buy with financial institutions like Chase for the benefit of Best Buy, their customers and Chase cardholders.”
Currently, customers can use Chase Pay online with select merchants, including 1-800-Flowers and Phillips 66, and it will be available later this year in stores and in apps.