WILMINGTON, Del. & SAN FRANCISCO--(BUSINESS WIRE)--As the No. 1 credit card issuer in the U.S., Chase is teaming up with Visa to bring tap to pay to the industry’s largest portfolio of credit cards. In the coming months, millions of Chase customers will benefit from a fast, easy, and secure checkout experience, saving valuable time by completing a transaction with a single tap.
Starting later this year, Chase customers will receive new contactless Visa cards on an ongoing basis as their cards are up for renewal or when they open a new account. Chase Freedom Unlimited and Chase Slate customers will be among the first to receive their new cards. All Chase Visa credit cards, including all co-brand cards, will have tap to pay functionality by the first half of 2019. Chase debit cards will offer the tap to pay feature in the second half of 2019.
The contactless checkout process is simple and secure: a customer taps their card on the reader at millions of places that feature the Contactless Symbol, and the reader confirms payment, often with no signature required. Chase contactless Visa cards include secure EMV® Chip technology, which has proven effective at reducing counterfeit fraud. Just like dipping, each contactless transaction produces a one-time code that securely protects payment information.
“Tapping to pay will help speed our customers through checkout with the ease and confidence of paying with Chase,” said Abeer Bhatia, president, card marketing, pricing and innovation for Chase Card Services. “Outside the U.S., consumers love the convenience of contactless payments, and we’re excited to start tapping to pay here.”
Globally, tapping to pay is becoming the standard way to check out, with more than 40 percent of all Visa transactions at checkout outside of the U.S. occurring with a tap. Merchants across the U.S. have already enabled contactless payments, with 70 of the top 100 merchants-- by number of transactions-- offering the ability to tap to pay at checkout1. Chase customers will be among the first U.S. consumers to benefit from this improved checkout experience, whether shopping at a local grocery store, on public transportation, or a restaurant halfway around the world.
“Tapping to pay enables a fast, easy and secure way to pay that benefits consumers, merchants, financial institutions, and payments partners. Visa believes the time to evolve the U.S. to a contactless market is now and we are thrilled to be working with Chase to make tapping to pay a reality for millions of Chase Visa cardholders,” said Oliver Jenkyn, Regional President, North America, Visa.
Chase continues to invest in technology that allows customers to make payments and manage their money more easily. Customers can pay millions of merchants through the Chase Pay® app, deposit checks through Chase QuickDeposit, get cash through their phone’s mobile wallet at nearly all of its 16,000 ATMs, or pay friends and family through Chase QuickPay® with Zelle®.
Customers can learn more about when to expect their cards by visiting chase.com/contactless.
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 $2.6 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: 5,100 branches, 16,000 ATMs, mobile, online and by phone. For more information, go to Chase.com.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, https://usa.visa.com/visa-everywhere/blog.html and @VisaNews.
1 VisaNet, September 2018