Chase has opened a pop-up shopping mall at the World Trade Centre complex in Manhattan in an effort to encourage consumers to try out its under-performing proprietary mobile wallet Chase Pay.
Open for six weeks over the holiday season, the Chase Pay Village gives consumers the option to use the bank's mobile wallet to check out and receive special offers when they shop at any of the 20 stores onsite.
The shops participating at Chase Pay Village include Artisans of NY, Bench Body, Churoncalla, Eataly, Fever Tree, Hanami Real Flower Jewelry, Honey Gramz, INSIDERS1, Love Menu Arts, Lovepop, Mr. Elle Pooh, No Chewing Allowed, Pamela Barsky, Papyrus, Pipcorn, Royce Chocolate, The Giving Keys, Toytoise, United Chocolate Works, and W Britt.
The move comes as Chase steps up its marketing activity for the mobile wallet, which has so far delivered minimal returns on the bank's $100 million investment in the technology.
A recent study from Bernstein Research ranked Chase Pay at ninth among the plethora of mobile wallets available to consumers, with only six percent of online shoppers reporting they’d used it. The top three spots went to PayPal, Visa and Amazon respectively.