JPMorgan to Shut Digital Wallet

JPMorgan Chase & Co will discontinue its Chase Pay digital wallet at the end of the month, according to a notice on the bank’s website.

The option to pay through Chase Pay will be removed from all merchant apps and websites, the notice said, adding that customers could instead link their Chase credit cards to their preferred shopping sites or apps and to their PayPal accounts.

In an effort to expand the digital wallet’s reach, JPMorgan had partnered with payments processor PayPal Holdings Inc in 2017, allowing users to link their Chase Pay and PayPal accounts and use reward points to make purchases, Reuters reported.

JPMorgan’s latest move comes a year after the bank shut down the digital wallet’s mobile app, started in 2015 to compete with rivals including Apple Pay.
The bank did not give any reason for discontinuing Chase Pay.