When Chase customers go shopping at Walmart next year, they'll have another option for paying via their smartphones instead of credit cards.
The giant retailer announced Thursday that it will add the Chase Pay feature to its Walmart Pay app, creating another payment option for shoppers wielding digital devices for shopping online.
The announcement comes as retailers rush to add as many easy digital ways to pay as possible -- and banks and credit card issuers try to make sure they are not left behind by the mobile payment revolution that has already given rise to Apple Pay. Digital payment apps have the side benefit of speeding up checkout lines, which have slowed down due to new. higher security chip-based credit cards.
The joint Chase and Walmart announcement comes as other retailers rush to create payment apps. CVS Health, for instance, announced in August that it will roll out payment via its app across the country.
Almost one of five U.S. consumers are expected to use their smartphones for in-store purchases this year., according eMarketer. The number is expected to climb 62% compared to last year to 37.5 million and is sure to grow more.
Chase, which says it has 94 million consumer credit, debit and prepaid card accounts, says the deal with Walmart will "provide customers yet another way to use Chase Pay for everyday shopping,” says Jennifer Roberts, president of strategic alliances and loyalty solutions.