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Chase announced Wednesday that it has launched a new media business that will allow advertisers to target the bank's 80 million U.S. customers based on their purchases.
The platform, Chase Media Solutions, allows brands to “connect with consumers' personal passions and interests,” while “customers can earn personalized offers and cash back on brands they love and discover.” “The bank will benefit from this,” the bank said. said in a press release.
Chase has rolled out a new media platform that the company claims is a “win-win” for its business and customers. (Spencer Pratt/Getty Images/Getty Images)
According to the Wall Street Journal, which first reported the news, Chase plans to charge merchants a service fee only when a customer makes a purchase through a transaction on its platform.
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said Rich Muhlstock, president of Chase Media Solutions. “Our deep understanding of consumer spending across a variety of categories led us to rethink what a retail media network can offer.”
JPMorgan Chase Tower on Park Avenue in midtown Manhattan. (Tim Clayton/Corbis via Getty Images/Getty Images)
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“Like any retailer, we have first-party data and a loyal audience,” Muehlstock added. “But what sets us apart is our unparalleled scale and customer insight, which has served us as a trusted guide for financial decision-making for many years.”
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| J.P.M. | JPMorgan Chase & Co. | 198.29 | -0.59 | -0.30% |
Chase, a JPMorgan Chase company, said Chase Media Solutions is the first bank-led platform of its kind. The company said the platform's benefits include the ability for businesses to target customers based on their purchase history, improved return on advertising investment, and a verified audience.
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The company said early trial partners include Air Canada, SoloStove, Blue Bottle and Whataburger, who have already tested the service with successful 30-day campaigns.
