Originally Posted by
rasheed
I believe this Visa relationship also hastened the end of the Chase Pay QR ecosystem since Visa wisely removed the financial incentive for Chase to bypass its network. This threat was also indicated by interest in Chase having a "closed loop" system (when they are the card issuer and network). There are only two really viable networks in the US for that. One is AmEx (where many Chase card employees came from) and the other is Discover, which I believe is still desperate for a buyer. Store cards are also some sort of closed loop system except most/all merchants are not able to be an issue of their own card and have to use a financial banking partner.
I thought Chase Pay transactions still went over Visa. After all, it did use Visa's official (US only) QR code standard, and IIRC still wasn't usable at the Kroger locations that stopped accepting Visa credit.