Seems like everyone's got a digital wallet system these days, from Apple and Google, to Paypal and MasterCard. Chase, the 216-year-old mega-bank, has been notably absent from the game, in spite of near ubiquity in just about every other aspect of America's financial life.

That's set to change in the not-too-distant future, with the launch of Chase Pay, a smartphone payment system that utilizes a QR code system to pay for products in retail establishments.

The bank's CEO of Consumer & Community Banking, Gordon Smith, was on hand at this week's Money20/20 conference in Las Vegas to show off the new service, which is due to launch sometime in the middle of next year.

Right now, the company's main partner is MCX, a consortium of retailers that includes the likes of Walmart, Best Buy and Kohl's.

Via: Recode