New Chase Services Expedite and Secure E-Payments
JPMorgan Chase has announced several new products and services that aim to provide fast and safe online payment transactions. The bank debuted new online security services along with Chase Wallet for storing and accessing multiple credit card accounts online, and also previewed Quick Checkout, a payment app designed to expedite checkout on mobile devices and desktop e-commerce sites. E-shoppers can use the Chase Wallet service to make payments with any brand of payment card they opt to store in it, and Chase automatically updates account numbers in customers’ wallets when they replace a lost, stolen, or expired card—unless is it a Chase-branded card. Meanwhile, Chase has rolled out a new tokenization system to protect customer account data by substituting credit card account numbers with encrypted code in payment processing. Chase also plans to issue EMV chip-and-PIN credit cards to boost security sometime this year. Meanwhile, Quick Checkout is designed to automatically enter a shopper’s shipping addresses on e-commerce sites, helping to reduce online and mobile checkout times to about 30 seconds from an industry average of two minutes, according to Chase.
From “Chase Goes After Faster and Safer E-Payments”
Internet Retailer (02/28/14) Demery, Paul