Chase Pay app
Courtesy of Chase

With the number of technological advancements over the past twenty years, we’re kind of running out of things we can point to as inconveniences. Previous conveniences like paper maps, CDs and waiting at least an hour before seeing your photos have now become relics. So, it should be no surprise that the way we make purchases will continue to change. The most recent money management frontier has come with the emergence of mobile wallets.

Chase has thrown its hat into the mobile wallet ring with Chase Pay. Let’s take a closer look at how it works, and how it stacks up to the competition.

Background on Chase Pay

Major tech players like Apple and Google have introduced their own iterations of mobile wallets, each offering slightly different functionalities and advantages. As of November 2016, JP Morgan Chase decided to make a splash by releasing their own mobile payment system, Chase Pay.

Offered as a mobile application for both Apple and Android devices, Chase Pay was created to add convenience and rewards opportunities for Chase cardholders. With the app, you’ll be able to easily make payments online or on your mobile device without ever opening your wallet.

There are unique ways to earn through Chase Pay, including bonuses, in-store discounts and others. For a limited time in early 2018, Chase gave 5x bonus points for purchases made through Chase Pay.

Security of Chase Pay

When making a purchase with the app, your actual card information is never shared with merchants. A payment token unique to each of your cards is shared when you decide to buy with Chase Pay, making the transactions secure.

If you were to lose your phone or have it stolen, you should contact your service provider or Chase in order to deactivate the device and/or linked card.

Setting up Chase Pay

To sign up for Chase Pay, go to Chase.com and log into your account. Navigate the menu to the “Pay & Transfer” page, where you’ll see an option to select and enroll in Chase Pay.

You’re then ready to add a Chase debit or credit card. You have the option to add multiple cards to your account if you’re interested in diversifying how you spend. Once you’ve successfully linked your card, you’ve enrolled in Chase Pay.

To take full advantage of Chase Pay on your mobile device, download and launch the app on your phone. If you’ve completed the steps above, log in using your Chase.com username and password. You should be able to see your linked card(s) and you’re ready to use Chase Pay.

Using Chase Pay

Whether you’re using Chase Pay online or within the app, the way you pay will be slightly different.

If you’re using the app inside a store, open Chase Pay on your mobile device and select the “Pay” button. You’ll then be shown a QR code and a selection of your linked cards, so you can decide which card to pay with.

Once you’ve selected your card, present the QR code to the cashier so they can scan it and complete your payment. It’s that simple!

Additionally, through a partnership with Samsung, Chase Pay has an option to link with Samsung Pay to utilize their Near Field Communication (NFC) technology. The technology makes tap-and-go payments possible, and eliminates the need to show the cashier your QR code.

When making a payment online, look for the Chase Pay logo at checkout. If you select to pay with the digital wallet, you’ll be prompted to enter your Chase.com credentials to see your linked cards.

Whether you’re using Chase Pay online or within the app, you’ll be given the option to pay with your Chase rewards points at checkout. After deciding if you’d like to use points for your online purchase, click “Next” to complete your checkout.

Integrating options

Banks

Chase Pay is limited to Chase credit cards, only. You won’t be able to integrate with any business cards, but all Chase credit and debit cards are compatible with the app.

Retailers

The app has partnered with numerous retailers to make for easier, more convenient payments at checkout.

Chase Pay’s retailers provide their customers with some significant advantages. Places like 1-800 Flowers, Chopt, Fry’s and others offer discounts and various rewards just for using the app. Plenty of restaurants, such as &pizza, Boston Market and Potbelly’s give the option of an “Order Ahead” button, making takeout orders as easy as possible. These are just the tip of the iceberg when it comes to where you can leverage Chase Pay. And there are even more spending opportunities when you link Chase Pay with Samsung Pay.

Pro tip: turn on your location settings when using Chase Pay to be shown nearby retailers and deals.

Comparing Chase Pay with other mobile wallets.

Chase Pay is limited in terms of functionality and flexibility when compared to mobile wallets like Apple Pay and Google Pay. It cannot be used to make peer-to-peer payments, has limited participating retailers and does not have the technology for tap-and-go payments. Chase has found a way around some of the limitations, however.

In creating Chase QuickPay – an app used to make payments between family and friends – Chase has made a way to make peer-to-peer payments, whether you use one of their cards or not.

The lack of retailers and technology (by comparison) is solved by partnering with Samsung Pay. By linking the two, more retailers are added to your available shopping options; and you’ll be able to use the NFC technology for a quicker checkout.

Chase Pay’s biggest limitation is the select amount of cards you can use with the app. So if you’re not a Chase cardholder or you prefer to have all the capabilities without the extra steps, another mobile wallet is likely a better choice.

What else you need to know

You’ll earn your usual points as you spend with the app. So whether you’re looking to earn cash back with the Chase Freedom Unlimited or travel rewards with the Chase Sapphire Preferred® Card — you’ll get applicable rewards.

Additionally, if you’re looking to spend a certain amount for your Chase Freedom’s rotating categories, there’s a clever way to hit your mark with Chase Pay. You can purchase and link gift cards within the app. By purchasing gift cards across different categories, you’ll be able to meet your limits by being a savvy shopper.

Keep an eye on the featured retailers within the app. Chase and participating retailers often run promotions like multiplied rewards points, first-time-buyer offers or limited-time deals specific to a store. You can also add store-specific loyalty cards to your Chase Pay account to earn additional points with your payments.

Chase Pay is free to download and there are no fees associated with its use.

Bottom line

If you’re a Chase cardholder, even if only for the special offers, Chase Pay is worth the download. With faster checkout times, easier organization and new ways to save money, mobile wallets are bringing us even closer to hassle-free spending.