JPMorgan Chase & Co will discontinue its Chase Pay digital wallet at the end of the month, according to a notice on the bank’s website.

The option to pay through Chase Pay will be removed from all merchant apps and websites, the notice said, adding that customers could instead link their Chase credit cards to their preferred shopping sites or apps and to PayPal accounts.

Approximately one year after ending the freestanding app,The choice to harness Chase Pay for transactions will be taken down from every retailer website and app by March’s end, Bloomberg reported.

Pablo Rodriguez, a J.P. Morgan representative, said in an emailed statement, “As technology has evolved, so has our strategy for integration at the merchant point of sale.”

Rodriguez noted that the bank is “incorporating the most popular features directly into the Chase mobile app and Chase.com,” such as logging receipts or using points to make payments.

J.P. Morgan announced it would shut down its Chase Pay app, which let users make payments with their smartphones at brick-and-mortar locations, in 2019.

At the time, it was noted that the Chase Pay app, which let shoppers tap at point-of-sale (POS) terminals, debuted four years prior as a way to compete with firms such as Apple.

“When we started this, it was four years ago — the payment space has changed a lot over the period of time and customer behavior has changed,” a Chase Pay executive said at the time. “A lot of merchants have shifted to ‘buy online, pick up in store’ and have invested in their online presence and their apps.”

J.P. Morgan has been aggressive in its launch of tech-forward initiatives, yet it has also displayed a willingness to jettison them if they are not immediately fruitful. In one case, the firm closed down its digital bank Finn one year after it made its debut.

A bank spokesman said the bank has incorporated some of Chase Pay’s more popular features, like receipt capture, Pay with Points and others, into the bank’s mobile app and website.

Source- PYMNTS.COM

Country- U.S