Walmart to process payments through ChaseNet
September 22 2016 - 09:02AM
Business Wire
Chase today announced that it has expanded its relationship with
Walmart (NYSE: WMT) to process payments on ChaseNet, the bank's
closed-loop network, at its 5,000+ Walmart and Sam’s Club locations
in the U.S. and at Sam’s Club ecommerce.
ChaseNet offers businesses guaranteed, fixed-rate pricing for
Chase Visa® credit and debit payments for the term of the contract.
Chase already processes payments for Walmart’s ecommerce
channel.
“Engaging Chase with a direct processing relationship has been a
priority for Walmart for some time,” said Mike Cook, Sr. Vice
President and Assistant Treasurer at Walmart. “Walmart is always
looking for innovative ways to improve the payment experience for
our customers while also creating competition in the payments
industry. We are excited to work with Chase to help our customers
save time and money.”
“We are pleased to expand our relationship to offer consumers a
convenient, secure payment experience,” said Matt Kane, CEO of
Chase Commerce Solutions.
About Walmart
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world
save money and live better – anytime and anywhere – in retail
stores, online, and through their mobile devices. Each week, nearly
260 million customers and members visit our 11,527 stores under 63
banners in 28 countries and e-commerce websites in 11 countries.
With fiscal year 2016 revenue of $482 billion, Walmart employs more
than 2.3 million associates worldwide. Walmart continues to be a
leader in sustainability, corporate philanthropy and employment
opportunity. Additional information about Walmart can be found by
visiting http://corporate.walmart.com on Facebook at
http://facebook.com/walmart and on Twitter at
http://twitter.com/walmart. Online merchandise sales are available
at http://www.walmart.com and http://www.samsclub.com.
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
worldwide. Chase serves nearly half of America’s households with a
broad range of financial services, including personal banking,
credit cards, mortgages, auto financing, investment advice, small
business loans and payment processing. Customers can choose how and
where they want to bank: 5,300 branches, 15,500 ATMs, mobile,
online and by phone. For more information, go to Chase.com.
About Chase Commerce Solutions
Commerce Solutions is the global payment acceptance and merchant
acquiring business of JPMorgan Chase & Co. Commerce Solutions
is a leading provider of payment, fraud management and data
security solutions, capable of authorizing transactions in more
than 120 currencies. The company’s proprietary platforms provide
integrated commerce solutions for all major credit and
debit card payments as well as mobile payments. Commerce
Solutions has uniquely combined proven payment technology with a
long legacy of merchant advocacy that creates quantifiable value
for ecommerce companies. Commerce Solutions processed 42 billion
transactions globally with a value of $949.3 billion in 2015, and
ranked the No. 1 Merchant Acquirer Worldwide, based on volume, by
The Nilson Report in April 2016.
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version on businesswire.com: http://www.businesswire.com/news/home/20160922005356/en/
ChaseEdward J. Kozmor,
302-282-7170edward.kozmor@chase.comorAshley Frost,
212-270-7077ashley.frost@chase.com
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