Merchant acceptance of Chase Pay hasn’t increased as the bank expected. Fewer than 1% of online merchants accepted JPMorgan’s digital wallet as of mid-2019, according to a PYMNTS.com study. By comparison, about 40% of top retailers offer Apple Pay on mobile and 43% via app, venture capital firm Loup Ventures found in November.
JPMorgan launched Chase Pay as two other tech giants rolled out payment platforms — Samsung Pay and Google Pay (then known as Android Pay) also debuted in 2015 — to compete against Apple Pay, which launched a year earlier.
