Best Buy adds mobile payment option

Best Buy

Best Buy has joined the growing ranks of retailers offering a mobile payment option at checkout, but is partnering with a third party rather than introducing its own digital wallet.

The electronics chain signed a multiyear agreement to accept JP Morgan Chase's Chase Pay in stores, online and in the Best Buy app.

"Our goal is always to make things easier for our customers and help them smoothly navigate the checkout process," added Mark Williams, president of financial services for Best Buy. "Chase Pay provides an easy and safe way for customers to purchase the products they want."

RELATED: 66% of shoppers would use mobile wallets

Chase Pay partners with members of the Merchant Customer Exchange (MCX), a consortium of retailers that had also been developing a proprietary mobile payment option called CurrentC. CurrentC never made it out of the test phase and the biggest backer of the project, Walmart, has since rolled out Walmart Pay to all its U.S. stores.

The Chase Pay partnership program was initially intended to roll out to all members of the MCX and be available to any that chose to accept CurrentC, including Walmart and Target. Best Buy is the first retailer to do so.

RELATED: Kohl's mobile wallet now 30% of mobile traffic