Walmart Will Process Payments Through ChaseNet
Chase and Walmart announced an expansion of their relationship. The retailer will now process payments on ChaseNet at its over 5,000 Walmart and Sam’s Club stores in the United States and at Sam’s Club ecommerce.
ChaseNet, which already processes payments for Walmart’s ecommerce channel, offers businesses fixed-rate pricing for Chase Visa credit and debit payments.
“Engaging Chase with a direct processing relationship has been a priority for Walmart for some time,” said Mike Cook, Sr. Vice President and Assistant Treasurer at Walmart. “Walmart is always looking for innovative ways to improve the payment experience for our customers while also creating competition in the payments industry. We are excited to work with Chase to help our customers save time and money.”
Last week, Walmart announced it bought Jet.com, an online retailer that finds customers the lowest prices as they shop. Walmart said it purchased Jet to reach a new demographic, as Jet.com appeals to “urban millennials.”