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JPMorgan Chase has yet to launch its Chase Pay wallet app, but it's lining up some formidable allies. The wallet's underlying technology was years in the making, giving Chase an edge in winning merchant partners while tapping into a sizable consumer base.
The recently announced deal with Shell demonstrates how Chase has begun filling a void left by the MCX CurrentC mobile wallet, which had the support of numerous large merchants. Shell was previously signed on to support CurrentC, which shuts down at the end of June after a yearlong pilot.