JPMorgan Chase plans to develop a one-click checkout option for its customers when shopping online or through mobile devices.
Bank customers would be able to place all of their credit cards, including non-Chase cards, in the Chase Wallet and use the one-click Quick Checkout at online and mobile websites supporting that service, Chase announced Feb. 25 at its annual Investor Day presentation. Consumers would also be able to fund purchases with Ultimate Rewards credit card points.
The bank can automatically update new Chase card information within the mobile wallet, and users will receive targeted offers. Merchants on a new ChaseNet platform and using Quick Checkout should benefit from faster checkout times and reduced shopping cart abandonment, the bank says.
Chase is currently testing ChaseNet with some of its merchant clients.
After consumers view products and payment options of a ChaseNet merchant online, they can log into the Chase Wallet to confirm information and place an order in about 30 seconds. The customer's shipping address and card data are auto-filled through the secure network.
When the shopper initiates a transaction, the wallet will send a secure token to the merchant, replacing the need to use card account data. The merchant sends the token to Chase for approval, and the token would not work outside of this context, Chase adds.
