Apple Pay To Be Available to Chase Customers and Merchants
October 16 2014 - 4:19PM
Business Wire
Offering an Easy, Secure and Private Way to
Make and Accept Payments
Chase today announced that its customers and merchants will have
access to Apple Pay, a new service that will transform mobile
payments with an easy, secure and private way to pay and accept
payments.
Chase cardholders can add their preferred Chase Visa® credit and
debit cards to Apple Pay in order to make payments in stores and
purchases within apps at selected merchants. Chase merchant
customers can integrate Apple Pay into their apps using a Chase
software development kit (SDK) that can be easily downloaded by
merchants and developers to facilitate payment transactions for
goods and services in apps.
“This is an exciting development for mobile payments,” said
Gavin Michael, head of Digital at Chase. “The ubiquity of Apple
combined with the reach of Chase and other major issuers points to
the potential to dramatically accelerate the adoption of mobile
payments.”
Security and privacy is at the core of Apple Pay. When Chase
customers add their Visa credit or debit card to Apple Pay, the
actual card numbers are not stored on the device or on Apple
servers. Instead, a unique Device Account Number is assigned,
encrypted and securely stored in the Secure Element on a
device. Each transaction is authorized with a one-time
unique dynamic security code, instead of using the security code
from the back of the credit or debit card. Chase cardholders
maintain all of the rewards, benefits and services they have come
to expect when using their Chase Visa credit and debit cards.
Chase Paymentech, the global payment processing, merchant
acquiring and offers business, worked with Apple on in-app
payments. With just a few lines of code, coupled with Chase’s
simple SDK installation, merchants can accept mobile payments
quickly within Apple Pay. To gain access to the payments network at
Chase, merchants can visit the Chase Paymentech Developer Center
and use the Chase SDK within their app.
For more information on Apple Pay,
visit: http://www.apple.com/apple-pay/
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 in more
than 60 countries. Chase serves more than 70 million consumers and
small businesses through more than 5,600 bank branches, 20,000
ATMs, credit cards, mortgage offices, and online and mobile banking
as well as through relationships with auto dealerships. More
information about Chase is available at www.chase.com, @Chase and
Chase Facebook.
About Chase Paymentech
Chase Paymentech is part of Chase Merchant Services, the global
payment processing, merchant acquiring and offers business of
JPMorgan Chase & Co. Chase Paymentech is a leading provider of
payment, fraud and data security, capable of authorizing
transactions in more than 130 currencies. The company’s proprietary
platforms enable integrated solutions for all payment types,
including credit, debit, prepaid stored value and electronic check
processing; as well as alternative and mobile payment options.
Chase Paymentech has combined proven payment technology with a long
legacy of merchant advocacy that creates quantifiable value for
companies large and small. In 2013, Chase Paymentech processed 35.6
billion transactions with a value of $750.1 billion. More
information can be found at www.chasepaymentech.com.
Chase Card & Merchant ServicesEdward Kozmor,
302-282-7170edward.kozmor@chase.com
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