One of the best low-key benefits of Samsung's Galaxy flagships is Magnetic Secure Transmission (MST) payments, which allow you to use your phone for contactless payments at most credit card readers, as opposed to the NFC-based payments used by other digital wallets that require an explicitly compatible terminal. Samsung and Chase are now teaming up to bring that MST convenience to the Chase Pay app. Of course, a Chase card could be used for MST Payments via Samsung Pay before, but now the Chase Pay app gets that same direct convenience.
Chase customers with eligible cards, including Chase's Sapphire and Freedom, can make use of Chase Pay, but up until now, the company's payments have been based on an outdated QR code system. With the addition of MST via Samsung Pay, Chase Pay has finally caught up with the future. Since the Chase Pay service is provided by the bank itself, the app doesn't have a tedious card setup process, either. Compatible cards are already preloaded for your convenience to your account.
The addition of MST to Chase Pay might not be that big a deal for cardholders since they could always just use Samsung Pay, but both Chase and Samsung are confusingly pushing another angle pretty hard: Rewards benefits. Chase Pay customers can earn both Chase Ultimate Rewards points and Samsung Reward points for payments made in the app. Based on reader reports (Thanks, Justin W), that was already possible via adding the card to Samsung Pay, but both Chase and Samsung seem happy to present the concept as new anyway.
When you get right down to it, it doesn't really matter which app you use to make payments if it ends up on the same card anyway. Even if Samsung silently nerfed its rewards system earlier this year, now you can get the same benefits via Chase Pay.
Chase Pay and Samsung Pay Join Forces
Samsung Newsroom 07.27.18
DIGITAL WALLET, SAMSUNG PAY, SAMSUNG REWARDS
Wallets now link so Chase customers can pay by mobile practically anywhere
NEW YORK—JULY 27, 2018—Starting today, Chase Pay customers with compatible flagship Samsung Galaxy smartphones now have the option to link Chase Pay to Samsung Pay.
This means that customers will now be able to use Samsung Pay’s Magnetic Secure Transmission (MST) technology, along with NFC, to pay with the Chase Pay app at millions of merchants in the United States by simply tapping the payment terminal.
Bringing together the two wallets offers Chase cardholders more ways to pay with their mobile phones and at more places. Samsung Pay is accepted at nearly all payment terminals, making it the most widely accepted mobile payment product in the United States.
Consumers that link Chase Pay to Samsung Pay will be able to earn both Samsung Rewards points and for eligible Chase cards, Chase Ultimate Rewards points, for the purchases they make. In addition, both consumers and businesses will benefit from the Chase Pay app’s pay with points feature, which allows customers to redeem Chase Ultimate Rewards points at checkout for a statement credit. Many merchants large and small will be able to let their customers use Chase Pay as a payment method at no extra implementation cost.
“Now our customers can use the Chase Pay app at millions of merchants around the country. And Chase Ultimate Rewards customers can redeem their points more easily,” said Jennifer Roberts, head of Chase Pay.
Chase Pay is a mobile app and digital engagement platform that enables users to pay merchants in stores and online. Any Chase customer with an eligible personal Chase Visa debit or credit card, like Chase Sapphire or Freedom, can use Chase Pay, and cards are preloaded for convenience. Customers can also use the Chase Pay app to pay with points at checkout towards a statement credit, pay at the pump, order and pay for takeout, and access special offers.
“Our vision for Samsung Pay is to create the most rewarding mobile shopping experience, whether consumers checkout at a physical merchant or find great deals within the Samsung Pay app,” said Sang Ahn, VP and General Manager of Samsung Pay at Samsung Electronics America. “We’re thrilled to bring Samsung Pay’s unique technology for the benefit of both Chase and Samsung’s customers by offering consumers more choices and better mobile payment experiences.”
Samsung Pay is the mobile wallet and payments platform that makes it easy to use your phone to pay at practically any cash register where you can swipe a card; all you have to do is tap to check out. Consumers can also earn Samsung Rewards points for every eligible purchase with Samsung Pay.
For more information about Chase Pay, visit www.chasepay.com. For more about Samsung Pay visit www.samsung.com/us/samsung-pay. Both apps are available on the Google Play store.
Chase Pay is the digital engagement tool from 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: 5,100 branches, 16,000 ATMs, mobile, online and by phone. For more information, go to Chase.com.