Why Mobile Payments Are Still So Hard for J.P. Morgan


J.P. Morgan’s newest focus is on Chase Pay, which is designed to make it easier for customers to pay with their smartphones in stores and online. The bank has spent about $100 million on it, according to people familiar with the matter. While J.P. Morgan doesn’t disclose financial details about Chase Pay, a May survey from Bernstein Research ranked it ninth among U.S. mobile wallets with only 6% of online shoppers saying they’d used it in the previous year, a fraction of the 61% who said they used PayPal. The bank is now reframing its plans as more of a long-term play.

To be honest, I'm not sure if most consumers know what Chase Pay actually is...still hard to offer differential feature set for NFC vs card swipe. On another note...what's the equivalent of "card swipe" for chip and pin? Card...insert? 


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