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Chase announces its QR code-based Apple Pay competitor w/ CurrentC


Yet another bank has announced today that it is launching its own mobile payment solution. At the Money20/20 conference in Las Vegas today, Chase announced that it is launching Chase Pay. Chase Pay is digital wallet solution similar to Apple Pay that allows users to pay with their phones at retail locations and online (via Re/code).

There’s one notable difference between Chase Pay and Apple Pay. Chase’s offering works by giving shoppers a QR code to show to their cashier, while Apple Pay works by using NFC technology to tap and pay. Another example Chase showed is paying for a dinner by taking a photo of the bill.

To get Chase Pay into more retail stores, the company will be partnering with MCX, the consortium that has recently faced more than its fair share of struggles thanks to increasing competition from Apple Pay. In some MCX stores, Chase Pay users will be able to show that QR code to pay, while in others they will be forced to use Chase Pay within MCX’s CurrentC app on their phones.

Chase’s QR code solution is an interesting idea that certainly sets it apart from the competition. But given that Chase credit and debit cards are supported by Apple Pay, it seems like a steep task for the bank to be able to convince users to use its solution versus Apple’s, which is built-in to the operating system and included in the set-up process through which every iOS user goes.

Chase Pay is slated to launch in “about the middle of 2016,” the company said.

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  1. JOEY (@JOEYpore) - 7 years ago

    What a terrible idea, Chase. Apple Pay / other NFC based systems are so much easier…

  2. iSRS - 7 years ago

    Have the folks at Chase used Apple/android Pay? Have they found a way to make it better? It takes less than 5 seconds to pay with Apple Pay. Is this QR code going to be faster? As fast as my 6s camera is, it still takes longer than Apple Pay registering.

  3. gregonaut - 7 years ago

    This will either never see launch OR someone at Chase devised this as a way to minimally satisfy some contract with MCX.

  4. soldbyroland - 7 years ago

    This would appear to be an Onion joke article. Big companies are so tone deaf. It’s like CBS charging $6 per month for access to there app. It’s a joke.

    • Ivar (@heyIvar) - 7 years ago

      The CBS app is $6 plus 2 minute ad breaks. So out of touch with current consumer demand.

      • calisurfboy - 7 years ago

        A selling appeal of cable use to be shows without commercials. Now you pay $90 a month to watch commercials. This is why I have never signed up for Hulu. I don’t see the appeal of paying to watch commercials. I noticed lately every time I load up a youtube video, the commercials have become 1 min 30 seconds or longer right before they announce an ad-free service. Commercials make commercial-free alternatives appealing.

      • realgurahamu - 7 years ago

        Hulu now offer ad free subscriptions but that’s the thing – their normal paid sub is supposed to be limited commercials – and in a 90 minute show they have 9+ ad breaks – this is more ad breaks than a tv network and I would not call it limited

    • incredibilistic - 7 years ago

      @calisurfboy: It does appear that ever since YouTube announced their paid tier ads seem to be longer but, and I’m sure I’m in the minority here, I don’t mind the ads. I feel like it keeps me somewhat informed and not completely disconnected from the outside world. Besides, it’s only 30 to 60 seconds of my life and in the process I might learn or be reminded of something.

      Thankfully Hulu doesn’t have ads for movies. A section that’s actually worthwhile but still pales in comparison to Netflix.

      • realgurahamu - 7 years ago

        Since YouTube announced their subs they started putting ads absolutely everywhere to try to force demand – thankfully you can usually skip them after 5 seconds or use an ad blocker

      • hijaszu - 7 years ago

        You should read a book about any subject during the cumulated time of those 30-60 seconds. That would keep you much more educated and probably more useful. Start with the produvtivity subject and you’ll realize why advertisement breaks are bad even in a show that you want to watch for relaxing.

  5. soldbyroland - 7 years ago

    This will never take off. Ever!

  6. lkrupp215 - 7 years ago

    If I’m a small business owner I will NOT support and pay the fees for numerous payment schemes so I will simply refuse to implement any of them. It will be cash or traditional credit cards, period.

    • Rob - 7 years ago

      And consumers will choose to shop as businesses that embrace technology and let them use secure payment methods. I have no idea if your POS terminal is even from this century, let alone remotely PCI-DSS compliant and not riddled with malware thats stealing my card data; solutions like Apple Pay mean that even if it does’t its useless to whomever steals it and protects me from fraud.

      • Horatio Ozsvath - 7 years ago

        So true. Whenever you limit a consumer on what methods of payment they will make; you in turn limit your customer base.

      • myke2241 - 7 years ago

        Exactly @Horatio Ozsvath! like those cash only places which have great product or service. you find yourself shopping everywhere else before going back and then repeating at the place that is more convenient!

    • northmccormick2014 - 7 years ago

      If you don’t already I would hands down use Square! It’s secure, easy, up to date, and supports Apple Pay. It’s the perfect combo and honestly so much cheaper than running your own credit machine. Also way easier. I also agree with the other comments.

      • taoprophet420 - 7 years ago

        The readers that support Apple Pay and chip and pin cards is $60

  7. Big corporations make the biggest errors in judgment. I’m a Strategic Consultant. I’m for hire. Do yourself a favor and call me, James.

  8. srgmac - 7 years ago

    Dumb — Samsung Pay is the best payment system so far — No NFC required. I wish Apple would have done this; I think Apple passed on the company that Samsung bought that originally developed the contactless payment technology without NFC.

    • Rob - 7 years ago

      Except Samsung Pay works with 5 issuers compared to the hundreds of Apple Pay and, oh yeah, WON”T WORK IF YOUR PHONE IS ENCRYPTED! You literally have to lessen the device’s security to use the “more secure” payment method?

      • srgmac - 7 years ago

        Remember when Apple Pay first launched? How many issuers did it work with? SP just launched — give them some time. You have a link to your claim about it not working if you encrypt your phone? I can’t find anything to corroborate this. I know if you root your phone, it won’t work — Samsung told everyone that from the start.

    • realgurahamu - 7 years ago

      Why is NFC a problem when most phones now contain it? In addition it is no harder to use than a contactless credit card which many businesses have now been accepting for a few years

    • incredibilistic - 7 years ago

      “Samsung Pay is the best payment system so far…’

      Unless your carrier is Verizon then not so much.

      Furthermore, Samsung Pay is still leagues behind Apple Pay in terms of participating banks (as Rob pointed out). I’m sure in time they’ll catch up but to say it’s the “best” is quite a stretch.

      Not to mention that the fail rate on Samsung Pay is pretty high, at least based on the reviews I’ve read where it’s prone to failure 20% or more of the time. This compared to NFC payment terminals that are practically flawless. Normally when I have issues with Apple Pay it’s because the cashier doesn’t know what they’re doing and I speak from personal experience as I’ve been to the same retailer using Apple Pay but have no issues until I get a new hire who’s not pressing the right button (or whatever) to recognize Apple Pay.

      • srgmac - 7 years ago

        I meant the best technologically speaking — it just launched, give them some time. Remember when Apple pay launched? They had like 5 banks that supported it as well. The point of it is I can use it anywhere, where as with Apple Pay, I can use it at maybe 3 stores that I go to, and that’s it. Can’t really leave my wallet at home when the stores I go to don’t have NFC. Yeah I know, I’m to blame for not shopping at different stores, lol. Consumer technology is supposed to make your life easier, you’re not supposed to have alter your habits just to use it in the first place — it’s supposed to take what you do already and make it easier for you. I also can not find any information about having an encrypted phone and samsung pay not working — that doesn’t sound right to me at all. I know if you root your device, then it won’t work — that makes perfect sense.

      • srgmac - 7 years ago

        Looks like if you decrypt the phone, add your cards, then re-encrypt it, samsung pay works fine. With Apple pay it’s over a year after launch and the adoption rate is still, by all measurements, a gigantic failure. There are many many articles saying it will take 5-10 years to get Apple Pay into a decent adoption rate…Sorry, I really don’t want to wait that long just to be able to use wireless payments and leave my wallet at home. If Apple would have bought the company that developed the MST payment technology, I have no doubt that Apple Pay would have been the best payment system out there; since they have a much better infrastructure and overall better relationship with the financial industry; especially in the United States. But, let’s compare Samsung Pay in Korea to Apple Pay in the US — Samsung Pay is literally EVERYWHERE in Korea…It’s a gigantic success. Apple Pay in the USA? Not so much.

      • jaklegal - 7 years ago

        srgmac- IDK if you’re just talking to yourself or what but you haven’t come near addressing the failure rate or some older stripe readers. This STILL doesnt solve leaving your wallet at home. Just another not fully there tech; along with the 10 others right now like NFC and QR Codes. It’s a nightmare mess at the end of the day and us the consumers are the ones who lose from the madness.

  9. Kevin Roa - 7 years ago


  10. cdm283813 - 7 years ago

    “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.”

    It’s partially correct anyways.

    • srgmac - 7 years ago

      That makes no sense — Apple Pay partners with banks for it to work in the first place…How is Apple Pay destroying banks??

  11. realgurahamu - 7 years ago

    Horrible idea just like the picture idea – insecure

    • srgmac - 7 years ago

      It’s the same thing Starbucks uses with their QR codes; I’d hardly call that insecure.

  12. 89p13 - 7 years ago

    Chase wanting to keep the 1.5 ~ 2.5% credit card fee that they have to pay to Apple?

    Too many systems and the people get confused.

  13. RM (@Failure_Modes) - 7 years ago

    about the middle of several years too late

  14. Koatsey - 7 years ago

    I agree with most of there comments here, including the ones about cable/Satellite TV being outdated and dead. Pay to watch adds… An add 5 minute before the end of a show then more adds, P… Off…… Netflix have got it so right and now they are making there own shows, if i were a traditional model, including Cinema’s I’d been looking to exit stage right…

    In terms of Chase does this mean a merchant will need yet another bit of technology, one for Apple, one for Google and another for Chase and so on? If so it’s gonna fail. It’s like this offers for cards that save you money and rack up points, if I said yes to them all I’d have a trailer to carry them all around. If it ain’t possible to add it to my phone or watch then forget it folks…


Avatar for Chance Miller Chance Miller

Chance is an editor for the entire 9to5 network and covers the latest Apple news for 9to5Mac.

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