FinTech News

Chase Pay Partners with Tock to Drive Adoption

Chase is looking to bring more users to its Chase Pay mobile payments solution by integrating it with the dining reservation platform Tock. Soon Chase credit and debit cardholders will be able to book the various culinary experiences offered on Tock — which range from chef’s table dining to winery tours and more — using Chase Pay. Additionally the bank plans to host unique culinary events for Chase customers as part of their exclusive partnership with Tock that kicks off later this summer.

For those unfamiliar, Chase Pay is the bank’s proprietary digital wallet, which enables users to pay for goods in-store at select retailers, online, and in apps. Among the main selling points of the platform is the ability for cardholders to redeem their Chase Ultimate Rewards points (in the form of a statement credit) when making purchases. Unfortunately Chase Pay doesn’t enjoy the same merchant acceptance rates that other players like Apple Pay or Samsung Pay do. That said, some notable outlets that support the wallet include Best Buy and Shell.

In a press release announcing his company’s partnership with Chase, award-winning restaurateur and Tock CEO Nick Kokonas said, “Great hospitality begins at the moment of discovery and booking, and, overwhelmingly, that takes place digitally. With Chase, Tock will greatly expand delicious offerings from chefs and vintners around the world and bring them to life for customers.” Expanding on Chase’s role in the process, Chase Pay head Jennifer Roberts said, “We want to provide customers with a commerce experience that helps them easily connect to the things they love. Our partnership with Tock allows customers to discover new and unique dining experiences, and through Chase Pay, use their Ultimate Rewards points to pay for unforgettable experiences, from a Michelin 3-Star restaurant to the best taco pop-up in their neighborhood.”

As we’ve discussed before, digital payment wallets have proven to be a competitive space in recent years, with the surprising leader in the clubhouse actually being Starbucks at the moment. Meanwhile Tock also operates in an increasingly popular space as apps, like OpenTable, that connect diners to restaurant reservations systems have proven to be a win-win. Given these realities, it makes perfect sense that the two would want to work together in an attempt to attract users. But what really takes this partnership to the next level is the planned Chase cardholder exclusives that Tock will co-host. If done properly, these events could certainly make a splash and bring the Millennials both companies are surely courting on board. With that, perhaps we shouldn’t count Chase Pay out just yet.

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