JPMorgan Chase Signs Best Buy to Accept Chase Pay

Chase has signed a multiyear agreement for Best Buy (NYSE: BBY) to accept Chase Pay in its stores, on BestBuy.com and in the Best Buy app, the company announced today.

Best Buy joins a host of merchants in signing up to accept Chase Pay, which gives Chase customers an easy, secure and rewarding way to pay for purchases. Best Buy is a leading provider of technology products, services and solutions to consumers and small business owners.

“We’ll partner with Best Buy to deepen relationships with our common customers by integrating offers and rewards into the payment experience to deliver a seamless experience at the point of sale,” said Jennifer Roberts, president of strategic alliances and loyalty solutions for Chase.

“Our goal is always to make things easier for our customers and help them smoothly navigate the checkout process,” added Mark Williams, president of financial services for Best Buy. “Chase Pay provides an easy and safe way for customers to purchase the products they want.”

More than 70 percent of Americans live within 15 minutes of one of Best Buy’s nearly 1,400 U.S. stores. Best Buy is also a key member of the Merchant Customer Exchange (MCX), a strategic Chase Pay relationship.

“MCX merchants use our solutions to bring choice and options to consumers across the U.S.,” said Brian Mooney, CEO of MCX. “The collaboration among MCX, Best Buy and Chase demonstrates the value of MCX’s core concept: linking top merchants like Best Buy with financial institutions like Chase for the benefit of Best Buy, their customers and Chase cardholders.”

Chase is the largest U.S. credit card issuer based on loans outstanding. Chase customers have more than 90 million consumer credit and debit card accounts, and nearly 24 million actively use the award-winning Chase mobile banking app.

Chase Pay is live with select online merchants and will be available later this year for Chase customers to use at participating merchants’ registers and in apps.

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.

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