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Aug. 21, 2019, 7:10 a.m. EDT

JPMorgan to close stand-alone Chase Pay app in early 2020

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By Ciara Linnane

JPMorgan Chase & Co. /zigman2/quotes/205971034/composite JPM +1.00% said Wednesday that Chase is closing its stand-alone Chase Pay app in early 2020, although customers will be able to use Chase Pay in more merchant apps in the coming months. New customers coming on board include Grubhub /zigman2/quotes/210404212/composite GRUB -1.04% , the bank said in a statement. Eric Connolly, head of Chase Pay, said customers are using the Chase Pay button on merchant websites and in apps more than ever. ""So, we're shifting our focus to expand Chase Pay's presence in more merchant apps and websites," he said. Chase has 51 million digitally active customers who use Chase-issued Visa debit and credit cards, including at Starbucks /zigman2/quotes/207508890/composite SBUX +0.23% , Shell, United /zigman2/quotes/205037281/composite UAL +0.28% and elsewhere. JPMorgan shares were up 0.6% premarket, and have gained 10% in 2019, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.13% has gained 11% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.03% has gained 16%.

/zigman2/quotes/205971034/composite
US : U.S.: NYSE
$ 119.76
+1.19 +1.00%
Volume: 10.72M
Sept. 18, 2019 6:30p
P/E Ratio
12.23
Dividend Yield
3.01%
Market Cap
$379.13 billion
Rev. per Employee
$497,647
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/zigman2/quotes/210404212/composite
US : U.S.: NYSE
$ 63.80
-0.67 -1.04%
Volume: 896,152
Sept. 18, 2019 6:30p
P/E Ratio
233.10
Dividend Yield
N/A
Market Cap
$5.89 billion
Rev. per Employee
$370,043
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/zigman2/quotes/207508890/composite
US : U.S.: Nasdaq
$ 90.96
+0.21 +0.23%
Volume: 4.56M
Sept. 18, 2019 4:00p
P/E Ratio
32.26
Dividend Yield
1.58%
Market Cap
$108.63 billion
Rev. per Employee
$86,863
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/zigman2/quotes/205037281/composite
US : U.S.: Nasdaq
$ 90.23
+0.25 +0.28%
Volume: 2.17M
Sept. 18, 2019 4:00p
P/E Ratio
9.15
Dividend Yield
N/A
Market Cap
$23.12 billion
Rev. per Employee
$448,946
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,147.08
+36.28 +0.13%
Volume: 215.60M
Sept. 18, 2019 6:20p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,006.73
+1.03 +0.03%
Volume: 1.71B
Sept. 18, 2019 5:35p
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