The move comes after rivals Visa and MasterCard revealed that they would share a common contactless technology protocol. American Express also unveiled its own version of the system, the ExpressPay, which it rolled out a few months ago.
To use the Visa and MasterCard with blink, cardmembers simply hold their card near a point-of-sale terminal at the checkout, instead of swiping their card or handing it to a store employee. As cardmembers hold their Chase card with blink near the point-of-sale terminal, the terminal will quickly emit a signal or tone to acknowledge payment confirmation.
JP Morgan’s Chase unit plans to have thousands of merchants in the US accepting the new technology by the end of the year. 7-Eleven has already been revealed as an early adopter of the new system, testing the card in 170 of its stores.
In the future, Chase cards with blink will also allow us to reward cardmembers at the point-of-sale and provide merchants and our cobrand partners with an opportunity to build even stronger customer loyalty programs, said Carter Franke, chief marketing officer of Chase Card Services, the company’s credit card division.
