Chase Launches 'Chase Pay' Payments Service to Compete with Apple Pay

[tmiw]

I was honestly excited because I thought it might speed up NFC readers in stores. I'm not sure how Chase is in the US, but in Canada they also provide POS terminals. Then I read that it'll be QR based.

They provide POS terminals in the US too (Chase Paymentech).

 

[sk1wbw]

They didn't launch it to compete with Google Pay?

 

[btrach144]

Dear Chase,

If you abandon Apple Pay, I will abandon you. You lose.

- A paying customer of yours

+1. Apple Pay is already working great. No need for them to try and add another standard.

 

[ghost187]

Ugh, not another one. I'm not against competition, but for mobile payments, I'm against exclusivity. Because of currentC, I can't use my Sam's Club business card with Apple Pay. This is the equivalent of Apple removing Wal-Mart and Chase apps from the App store.

 

[John.B]

QR codes. SMH

Have they not used ApplePay?

 

[skinned66]

Here at Chase, we run after things that have already passed us. Because if we didn't, we wouldn't be "Chase." And our name is worth living up to.

 

[Zorn]

"Solutions" like this just seem so completely braindead to me. These are all awesome steps I would just *LOVE* to take when I pay for something:

pull out the phone
open up an app
find the QR code that needs to be scanned
turn the phone brightness up all the way
pray that the 20 year old scanner is able to read the code, or that the clerk can angle it correctly

Or I can just use Apple Pay and tap my watch against the industry-standard NFC terminal. MCX needs to die and Chase is beyond stupid for marching down this path with them and trying to further fragment digital payments.

 

[Jax44]

Poop on a stick.

 

[Yojimbo007]

Oh boy, another DOA payment system.

Absolutely DOA

 

[DanTheMan827]

They were a huge supporter of Apple Pay too.

What's saying they still won't support Apple Pay?

They're a bank, it's their job to make as much money as possible through fees...

Apple Pay is just another way for them to make money

 

[flat five]

weird. chase was pushing hard for apple pay not too long ago.
(apple ads on their site.. ads in the branches)

 

[NY Guitarist]

QR codes? No thanks.

 

[neutralguy]

Really? So in addition to Apple fans vs. Android fans, now we have to have cash fans trolling? Well a) who the f still uses cash in 2015 when avoidable? You don't get any added value from using cash, and in many ways its just less secure, less convenient, and annoying to everyone involved in a transaction.
Also, I love 19th-century arguments! let's get back on the gold standard!

Please elaborate how is it less secure, less convinient and annoying...

 

[neutralguy]

Apple Pay is secure. Samsung pay is a maybe but Google Pay will be equally secure as apple pay. So MCX just needs one nice hack and it is over.

What is wrong with you? It's one think to be in disagreement, it's another to expect a hacking on a system? Why so much hatred?

 

[SuperCachetes]

And here I thought Chase was being all forward-thinking and modern by supporting Apple Pay from the start. If they pull Apple Pay support in favor of this, I'm out.

Exactly. The few retailers I've used Apple Pay at have shown that the concept is valid, and most importantly, it's easy to use. I'll still have a credit card on Apple Pay, but if Chase is dumb enough to dump it, I'll consider finding another checking account and debit card setup.

 

[Silver Idaten]

Oh god, this is so stupid. Oh well, at least they're not going anywhere when it comes to Apple Pay. They need to get their **** on point though when it comes to Android Pay and Samsung Pay. Maybe try not doing this stupid crap and focus on the popular platforms already out there?

 

[tdar]

Chase customer. Chase supporter. Chase cards enrolled in Apple Pay- where they will stay.

 

[tdar]

Apple Pay, Samsung Pay, Android Pay, Chase Pay...Windows Pay, Bank of America Pay, Wells Fargo Pay, Citi Pay, Discover Pay, American Express Pay......

THIS is why all of this will die. No merchant wants to deal with all of that, Sure Apple Pay and Android Pay. But the rest No. As for the banks, well they are bankers after all, we should not be surprised by their greed.

 

[snowmoon]

Chase, look, it's 2015 and mobile payments may be the hot thing but no way in hell will a single bank solution get off the ground. Consumers will not stand for needing a seperate app and the expectations for payments are set by the ease of a card swipe and signature, if you can't beat that then don't even bother.

 

[towdow3]

You're either not in America or you don't buy much of anything. The number of retailers that actually accept Apple Pay/Android Pay is abysmally small. Hell, we're still trying to wrap our heads around chip & pin. The number of times I still have to "old fashioned" swipe my card is infinitely higher than the number of times I can use AP

yeah i love apple pay, but i still have to in most places use my card. hell, i went to walgreens and their pos was janky, so i couldn't even use apple pay... but this MCX currentC is some ole bulllllll

 

[Robert.Walter]

I wonder how much Chase is going to blow implementing and marketing its here a pic, there a pic, everywhere a pic pic dead on arrival MCX QR-based rubbish.

I can't believe how anybody with an NFC equipped Apple device will waste any time fooling around with MCX as its easier to just use a credit card (and so avoid giving MCX access to your bank account and losing your loyalty awards from the card issuer.)

 

[cdm283813]

"You (Apple Pay) were the chosen one! It was said that you would destroy the Sith (Banks), not join them, bring balance to the force (market), not leave it in darkness."

May not be completely true but if this keeps up Apple pay is going to suffer. Everybody and their mother is going to have some type of payment system that waters down the cool-aid. Wouldn't be surprised if Wal-Mart comes out with a payment system that ties to your checking account.

 

[groovyd]

they realize apple pay is a gateway to being dropped as the middleman once apple allows direct purchases from your registered apple account and begins offering their own line of credit... with rewards going toward your biannual iphone upgrade or in store credit.

 

[AppleScruff1]

Really? So in addition to Apple fans vs. Android fans, now we have to have cash fans trolling? Well a) who the f still uses cash in 2015 when avoidable? You don't get any added value from using cash, and in many ways its just less secure, less convenient, and annoying to everyone involved in a transaction.
Also, I love 19th-century arguments! let's get back on the gold standard!

When the world falls apart, cash will still be king.

 

[sikachu]

THIS is why all of this will die. No merchant wants to deal with all of that, Sure Apple Pay and Android Pay. But the rest No. As for the banks, well they are bankers after all we should not be surprised by their greed.

My take:

* Apple Pay, Android Pay, and other NFC-based payment won't die though. It's a well adopted support ... well, outside of the US. (However, FWIW, it's soooooo well supported since all new terminals can do it. It's just that some merchants disable them.)
* Samsung Pay via MSD won't die, until we obliterate magnetic stripe which is like never.
* Chase Pay and others — They will live as long as there's something, such as deals, that retain users (imagine getting 5% off all orders on all transactions through Chase Pay during 2016). After that, there's no way someone would prefer that compared to just using card or NFC payment.

BTW, while I hate MCX since the made me unable to use NFC everywhere, they still have a hurdle that they have to go through — those people who thinks using card with magstripe is good enough. It's the same people that doesn't want to use Apple Pay even they have phone that supports it. I think their target audience is pretty much US, the people who love to try new things. If we just don't give this thing a chance, then it'll go away soon enough.