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Walmart to Accept Chase Pay

JPM, WMT | November 3, 2016

Walmart to Accept Chase Pay

Provides customers another convenient, secure and rewarding way to pay

Chase announced today that Walmart (NYSE: WMT) will accept Chase Pay^® on Walmart.com, within the Walmart mobile application and in its stores through the Walmart Pay app.

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Walmart will now accept Chase Pay (Photo: Business Wire)

Chase Pay allows customers to use the digital payment solution to purchase conveniently and securely in-store and online while earning rewards and receiving offers. Created for Chase Visa^® credit and debit cards, Chase Pay protects the customer through token technology, which utilizes one-time complex codes to process transactions and keep the card information secure.

The companies last month expanded their relationship by announcing that Chase Visa card transactions at 5,000+ Walmart and Sam’s Club locations in the U.S. and at Sam’s Club ecommerce will process through ChaseNet, the bank’s closed-loop network. Both ChaseNet and Chase Pay are scheduled to go live with Walmart in 2017.

“We are excited about the opportunity to provide our customers with even greater convenience and value to our Walmart Pay app while expanding our relationship with Chase,” said Mike Cook, senior vice president and assistant treasurer for Walmart. “Adding Chase Pay as an option within Walmart Pay and online will create an enhanced experience for our customers.”

Walmart joins a list of high-profile merchants poised to accept Chase Pay, which is currently live on select merchant websites. Chase Pay will launch for mobile payment at participating merchant registers and a form of payment in select merchant apps later this year.

“We’re delighted to strengthen our ties with Walmart to deliver a seamless payment experience to our mutual customers,” said Jennifer Roberts, president of strategic alliances and loyalty solutions for Chase. “Walmart is a great partner that will provide customers yet another way to use Chase Pay for everyday shopping.”

Chase is the largest U.S. credit card issuer based on loans outstanding. Chase customers have more than 94 million consumer credit, debit and prepaid card accounts, and nearly 26 million actively use the award-winning Chase mobile banking app.

About Walmart

Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, nearly 260 million customers and members visit our 11,539 stores under 63 banners in 28 countries and e-commerce websites in 11 countries. With fiscal year 2016 revenue of $482.1 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart.

About Chase

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $2.5 trillion and operations worldwide. Chase serves nearly half of America’s households with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: 5,300 branches, 15,500 ATMs, mobile, online and by phone. For more information, go to Chase.com.

About Chase Commerce Solutions

Commerce Solutions is the global payment acceptance and merchant acquiring business of JPMorgan Chase & Co. Commerce Solutions is a leading provider of payment, fraud management and data security solutions, capable of authorizing transactions in more than 120 currencies. The company’s proprietary platforms provide integrated commerce solutions for all major credit and debit card payments as well as mobile payments. Commerce Solutions has uniquely combined proven payment technology with a long legacy of merchant advocacy that creates quantifiable value for ecommerce companies. Commerce Solutions processed 42 billion transactions globally with a value of $949.3 billion in 2015, and ranked the No. 1 Merchant Acquirer Worldwide, based on volume, by The Nilson Report in April 2016.