Chase, the US consumer and commercial banking business of JPMorgan Chase & Co, has signed a multiyear agreement with Best Buy, that will see the electronics retailer accept Chase Pay in its stores, on BestBuy.com and in the Best Buy app.
“We’ll partner with Best Buy to deepen relationships with our common customers by integrating offers and rewards into the payment experience to deliver a seamless experience at the point of sale,” said Jennifer Roberts, president of strategic alliances and loyalty solutions for Chase.
Chase says that More than 70% of Americans live within 15 minutes of one of Best Buy’s 1,400 US stores meaning the convenience factor is very high. Its customers have more than 90 million consumer credit and debit card accounts, and nearly 24 million actively use the Chase mobile banking app.
Best Buy is also a member of the Merchant Customer Exchange (MCX), a strategic Chase Pay relationship.
Brian Mooney, CEO of MCX said the collaboration between MCX, Best Buy and Chase evidences the value of MCX’s core concept: linking top merchants like Best Buy with financial institutions.
“Our goal is always to make things easier for our customers and help them smoothly navigate the checkout process,” added Mark Williams, president of financial services for Best Buy. “Chase Pay provides an easy and safe way for customers to purchase the products they want.”
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