JPMorgan Plans to Shut down Chase Pay App in 2020

JPMorgan Plans to Shut down Chase Pay App in 2020

August 22, 2019         Written By John H. Oldshue

JPMorgan Chase plans to shut down their mobile wallet app in early 2020. The bank has already begun notifying customers of the changes.

The company is not shutting down Chase Pay entirely. Instead, they are turning their attention to the web version of the service. Eric Connolly, head of Chase Pay, said, “We see our biggest opportunity in working with merchants to provide easy payment solutions for customers through the Chase Pay button online and directly in merchant apps.”

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Simply put, JPMorgan wants Chase Pay to function more like PayPal and less like Apple Pay. When the bank first launched Chase Pay in 2015, it was meant to be a competitor to Apple Pay and Samsung Pay. However, limited adoption has forced the bank to take a different approach to digital wallets.

Chase Pay will still operate as a middleman for payment processing online. The only difference is that users will not be able to pay with their Chase Pay app at a physical register.

Last year, the bank updated its mobile wallet so users could link Chase Pay with Samsung Pay. This allowed cardholders to simultaneously earn Samsung Rewards and Chase Ultimate Rewards on applicable cards. There is no information yet to indicate if that service will continue after the app shuts down.

The information contained within this article was accurate as of August 22, 2019. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

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About John H. Oldshue

John Oldshue is the creator of LowCards.com. He worked for over 15 years in television and won an Emmy award for his reporting. He covers credit card rate issues for LowCards.com.