We've known for some time that Windows 10 Mobile will no longer be supported by the end of this year, and it seems that Microsoft is starting to take steps to shut down its OS for phones. Last week, the firm published a support document confirming the end of life date for version 1709, and saying that users won't even be able to back up their phones beginning in March. 2020.
Today, Microsoft updated its Wallet page, saying that the app will be retired on February 28, 2019. Microsoft Wallet always allowed users to load up loyalty cards and such, but beginning in June 2016, tap-to-pay support was added.
The strange thing is that the feature never really went anywhere. Supported devices included the Microsoft Lumia 650, 950, and 950 XL, and that list has not changed, despite new, higher-end handsets coming to market after that. Chase was on the list of banks that were "coming soon" from day one, and as of today, that status has not changed.
The Microsoft Pay service isn't going anywhere though, or at least not yet. This is still integrated with Microsoft's Edge browser, and various apps and services like the Microsoft Store.