Chase has expanded its relationship with Wal-Mart to process payments on ChaseNet, the bank's closed-loop network, at its 5,000-plus Wal-Mart and Sam's Club locations in the U.S. and at Sam's Club ecommerce, according to a joint announcement from the companies.

ChaseNet is said to offer businesses guaranteed, fixed-rate pricing for Chase Visa credit and debit payments for the term of the contract. Chase already processes payments for Wal-Mart 's ecommerce channel.

"Engaging Chase with a direct processing relationship has been a priority for Wal-Mart for some time," said Mike Cook, senior vice president and assistant treasurer at Wal-Mart. "Wal-Mart is always looking for innovative ways to improve the payment experience for our customers while also creating competition in the payments industry. We are excited to work with Chase to help our customers save time and money."

"We are pleased to expand our relationship to offer consumers a convenient, secure payment experience," said Matt Kane, CEO of Chase Commerce Solutions.