NEW YORK--(BUSINESS WIRE)--Chase today announced that its customers and merchants will have access to Apple Pay, a new service that will transform mobile payments with an easy, secure and private way to pay and accept payments.
Chase cardholders can add their preferred Chase Visa® credit and debit cards to Apple Pay in order to make payments in stores and purchases within apps at selected merchants. Chase merchant customers can integrate Apple Pay into their apps using a Chase software development kit (SDK) that can be easily downloaded by merchants and developers to facilitate payment transactions for goods and services in apps.
“This is an exciting development for mobile payments,” said Gavin Michael, head of Digital at Chase. “The ubiquity of Apple combined with the reach of Chase and other major issuers points to the potential to dramatically accelerate the adoption of mobile payments.”
Security and privacy is at the core of Apple Pay. When Chase customers add their Visa credit or debit card to Apple Pay, the actual card numbers are not stored on the device or on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on a device. Each transaction is authorized with a one-time unique dynamic security code, instead of using the security code from the back of the credit or debit card. Chase cardholders maintain all of the rewards, benefits and services they have come to expect when using their Chase Visa credit and debit cards.
Chase Paymentech, the global payment processing, merchant acquiring and offers business, worked with Apple on in-app payments. With just a few lines of code, coupled with Chase’s simple SDK installation, merchants can accept mobile payments quickly within Apple Pay. To gain access to the payments network at Chase, merchants can visit the Chase Paymentech Developer Center and use the Chase SDK within their app.
For more information on Apple Pay, visit: http://www.apple.com/apple-pay/
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 in more than 60 countries. Chase serves more than 70 million consumers and small businesses through more than 5,600 bank branches, 20,000 ATMs, credit cards, mortgage offices, and online and mobile banking as well as through relationships with auto dealerships. More information about Chase is available at www.chase.com, @Chase and Chase Facebook.
About Chase Paymentech
Chase Paymentech is part of Chase Merchant Services, the global payment processing, merchant acquiring and offers business of JPMorgan Chase & Co. Chase Paymentech is a leading provider of payment, fraud and data security, capable of authorizing transactions in more than 130 currencies. The company’s proprietary platforms enable integrated solutions for all payment types, including credit, debit, prepaid stored value and electronic check processing; as well as alternative and mobile payment options. Chase Paymentech has combined proven payment technology with a long legacy of merchant advocacy that creates quantifiable value for companies large and small. In 2013, Chase Paymentech processed 35.6 billion transactions with a value of $750.1 billion. More information can be found at www.chasepaymentech.com.
