Chase will be shutting down its Chase Pay app, just a few years after it was released. Chase Pay has been a nice addition for online shopping but the app itself has not really been a smooth process when paying in person. It does however offer promotions and discounts which have been useful for savings at restaurants.
Chase started informing customers Wednesday by email that they’ll no longer be able to use the product to pay with their smartphones when shopping in stores starting early next year. They’ll still be able to use Chase Pay on the websites and apps of retailers that accept it. Here’s what the email said:
We’re closing the Chase Pay app in early 2020. You’ll still find Chase Pay® as a payment option in more of your favorite websites and apps.
What does this mean for me?
Keep using the Chase Pay app until early 2020. After that, you can still use Chase Pay when you:
Shop online or in merchant apps. Look for the Chase Pay button for fast, secure checkout.
Pay at the pump when you select Chase Pay as the payment method in the Shell, My Phillips 66®, My Conoco®, My76® or Gulf Pay apps.
Your credits will also expire in early 2020 when the Chase Pay app is closed down, so make sure to use them before then.
Chase is looking to focus more on online payments and go after PayPal. But they have a long way to go. PayPal is accepted by about 70% of online merchants, compared to just 1% for Chase Pay.
This is the third digital offering that Chase is cutting back on this year. They shut down digital bank Finn just a year after rolling it out, and also cut ties with online small-business loans fintech company On Deck.