By Michael Dabaie

 

Chase, the U.S. consumer and commercial banking business of J.P. Morgan Chase & Co., and online grocery platform Instacart said they expanded their existing partnership to make Chase the exclusive issuer of Instacart's first credit card.

As a part of the partnership, Mastercard Inc. will become the exclusive payments network for the new offering.

The Instacart Mastercard credit card, expected to launch in 2022, will be the first Chase co-branded card offering in the on-demand grocery delivery space, the companies said.

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 card members.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

January 19, 2022 09:32 ET (14:32 GMT)

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