JPMorgan will shut down the app for its Apple Pay-like service Chase Pay in early 2020

What you need to know

  • JPMorgan is shutting down the Chase Pay app in early 2020.
  • The decision comes are support for the app wasn't readily available at most merchants.
  • The rewards points offered will also be voided in early 2020.

JPMorgan has confirmed that it is shutting down the Chase Pay app in early 2020. However, the service will remain around via its online-only function, according to The Points Guy.

Say goodbye to the stand-alone Chase Pay app because JPMorgan just announced it's being discontinued in early 2020. However, once the app is closed, you'll still be able to use the online-only features at participating merchants' websites and apps , like United and Walmart. Chase says they're discontinuing the app in an effort to integrate the digital payment option into more website and in-app purchases as they have over 51 million digitally active customers that utilize the button on websites and in apps.

Chase Pay worked similarly to the way Apple Pay works as a digital wallet. More so, you can store your rewards points in there and redeem them as you wished.

However, the app wasn't accepted at many locations, which led to JPMorgan's decision to shut it down. If you are a Chase Pay user, the loyalty points and rewards you've attained through the app will also expire when the app is shut down in early 2020. Here's how that will look:

If you're an avid user of Chase Pay you should know that all loyalty points and rewards will expire when it's discontinued in early 2020, so that's something to keep in mind when using the app in the coming months. Additionally, you can continue to redeem Ultimate Rewards points for egift cards through the app until Sept. 11, 2019, but after that you will only be able to redeem for physical gift cards through the Ultimate Rewards Gift Card Storefront. Any remaining egift card balances will be valid until early 2020; after that they will be credited to your Ultimate Rewards account. Just note that redeeming your Ultimate Rewards points for gift cards is usually a bad idea since you can get much more value when transferring them to travel partners like Hyatt or British Airways.

Better use up all your reward points before the Chase Pay app is shut down.

Danny Zepeda