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Chase, Instacart and Mastercard Announce Partnership to Launch Credit Card
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Chase and Instacart have expanded their partnership to introduce the first-ever Instacart credit card, set to launch in 2022. This Mastercard will allow users to earn accelerated points on purchases within the Instacart marketplace, which includes over 700 retailers. The card aims to enhance customer savings and convenience in grocery shopping, with special benefits for cardholders, such as World Elite Mastercard perks. This partnership reflects Chase's strategy to innovate in the co-branded card space amidst evolving consumer habits.
Positive
Launch of the first Instacart credit card allows customers to earn accelerated points.
The card includes access to World Elite Mastercard benefits, enhancing overall value for customers.
The partnership expands existing collaboration since June 2020, indicating a strong business relationship.
Negative
None.
First-ever Instacart credit card will offer accelerated points on Instacart purchases, among other perks and rewards
WILMINGTON, Del. & SAN FRANCISCO & PURCHASE, N.Y.--(BUSINESS WIRE)--
Chase, the largest co-brand card issuer in the U.S., and Instacart, the leading online grocery platform in North America, today announced an expansion of their existing partnership to make Chase the exclusive issuer of Instacart’s first credit card. As a part of this partnership, Mastercard will become the exclusive payments network for the new offering.
The new Instacart Mastercard® credit card will be the first Chase co-branded card offering in the on-demand grocery delivery space. The card will allow consumers to earn accelerated points on purchases across the Instacart marketplace, which today includes more than 700 beloved national, regional and local grocers and retailers. The card is expected to launch in 2022 and will also offer a number of other benefits, perks and savings.
“Giving people access to the food they love and essentials they need is central to everything we do at Instacart,” said Asha Sharma, Chief Operating Officer, Instacart. “With the new Instacart credit card, we’ll be able to deliver even more ways for customers to save as they shop, and make Instacart the most affordable way for people across North America to get the food they want, from the retailers they love, delivered faster than ever before.”
“The adoption of more convenient digital services has accelerated, and consumers’ habits have clearly evolved,” said Ed Olebe, President of Chase Co-Brand Cards. “We are excited to introduce a new category of co-branded cards for Chase through this partnership with Instacart, a true leader in the grocery delivery space.”
“Our lives are more digital than ever, from how we shop to how we work, travel and connect. And consumers' expectations about their experiences with brands are changing. It’s critical that we design and deliver the best payments and loyalty experiences for our cardholders, regardless of where or how they pay,” said Sherri Haymond, executive vice president, Digital Partnerships at Mastercard. “The new Instacart Mastercard is a prime example of the evolution of digital payments– a card tailored to customers, that earns relevant rewards as they live their lives. It’s a powerful way for Instacart to engage new customers and enhance the experience for existing ones.”
The new co-branded card expands the current relationship between Chase and Instacart. Since June 2020, the companies have worked together to provide limited-time Instacart offers and savings to existing Chase cardmembers. Chase and Instacart are currently offering eligible Chase cardmembers a free Instacart Express membership and $10 off their next order of $35 or more, through April 30, 2022. Instacart Express membership provides unlimited free deliveries and reduced service fees on all orders $35 or more. More details on this limited time offer and full terms are available here. Eligible cardmembers can sign up through January 31, 2022.
The new Instacart Mastercard is a World Elite Mastercard®, and will offer cardholders access to World Elite Mastercard benefits including complimentary 24/7 concierge service and access to Mastercard Priceless® Experiences.
About Chase
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States with assets of $3.7 trillion and operations worldwide. Chase serves more than 60 million American households with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: Nearly 4,800 branches in 48 states and the District of Columbia, 16,000 ATMs, mobile, online and by phone. For more information, go to chase.com.
About Instacart
Instacart is the leading online grocery platform in North America. Instacart shoppers offer same-day delivery and pickup services to bring fresh groceries and everyday essentials to busy people and families across the U.S. and Canada. Instacart has partnered with more than 700 beloved national, regional and local retailers, including unique brand names, to deliver from more than 65,000 stores across more than 5,500 cities in North America. Instacart’s platform is available to over 85% of U.S. households and 90% of Canadian households. The company’s cutting-edge enterprise technology also powers the ecommerce platforms of some of the world’s biggest retail players, supporting their white-label websites, applications and delivery solutions. Instacart offers an Instacart Express membership that includes reduced service fees and unlimited free delivery on orders over $35. For more information, visitwww.instacart.com. For anyone interested in becoming an Instacart shopper, visithttps://shoppers.instacart.com/.
About Mastercard
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
www.mastercard.com
