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Banks Still Have Cards to Play in Payments Race

Jan. 7, 2021 7:30 am ET With people traveling less and spending more on digital platforms, banks with big credit-card units may have lost some relative luster with investors. But they still have cards to play. JPMorgan Chase JPM 1.58% recently acquired the global loyalty division of cxLoyalty Group Holdings. That business serves credit-card rewards programs and helps connect them to a number of ways that rewards can be used. The move suggests in part that JPMorgan Chase sees travel and cards continuing a long-running association, and the deal includes travel services. Americans may have started using different cards or scrambled to find other uses for points in 2020, and lenders have responded by upping rewards for activities such as grocery shopping and streaming. But many firms are betting that a pent-up desire for escape still exists, and spenders will be eager to use points as much as ever once more movement is feasible.

United statesLoyalty group holdingsLoyalty groupShop directoryஒன்றுபட்டது மாநிலங்களில்விசுவாசம் குழு ஹோல்டிங்ஸ்விசுவாசம் குழுகடை அடைவு

cxLoyalty Group Holdings Inc Completes Sale of its Global Loyalty Division to JPMorgan Chase

Share this article Share this article STAMFORD, Conn., Dec. 31, 2020 /PRNewswire/ cxLoyalty Group Holdings, Inc. ( cxLoyalty Group Holdings ) today announced the closing of the previously announced sale of its Global Loyalty division ( cxLoyalty ) to JPMorgan Chase & Co. (NYSE: JPM) ( JPMC ). The Company will operate under the Global Customer Engagement division and will be headquartered in Stamford, CT. The transaction includes cxLoyalty s leading technology platforms, full service travel agency, gift card, merchandise, and points bank businesses. cxLoyalty will operate as a business unit within JPMC. The transaction excludes cxLoyalty Group Holdings Global Customer Engagement division and other ongoing businesses. Today marks an important next chapter for the Global Customer Engagement business, said Greg Miller, who will lead the Global Customer Engagement Division going forward. We are excited to be in a position to expand our product roadmap without capital constraints

Greg millerLoyalty group holdings incLoyalty group holding global customer engagementJpmorgan chase coLoyalty group incLoyalty group holdingsGlobal customer engagement divisionLoyalty groupGlobal loyaltyGlobal customer engagementகிரெக் மில்லர்விசுவாசம் குழு ஹோல்டிங்ஸ் இன்க்விசுவாசம் குழு வைத்திருத்தல் உலகளாவிய வாடிக்கையாளர் நிச்சயதார்த்தம்ஜுப்ம்ொர்கண் துரத்து இணைவிசுவாசம் குழு இன்க்விசுவாசம் குழு ஹோல்டிங்ஸ்

JPMorgan Chase Acquiring Customer Loyalty Division of cxLoyalty Group

The company makes an interesting and unexpected move to diversify its business.

Todd siegelLoyalty group holdingsLoyalty groupடாட் ஸீகல்விசுவாசம் குழு ஹோல்டிங்ஸ்விசுவாசம் குழு

JPMorgan Chase to buy credit card loyalty platform cxLoyalty

JPMorgan Chase to buy credit card loyalty platform cxLoyalty
paymentssource.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from paymentssource.com Daily Mail and Mail on Sunday newspapers.

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J P Morgan further diversifies away from traditional banking with CxLoyalty Group acquisition

CxLoyalty Group is a major player in credit card rewards and travel. A bank executive said that hopefully travel will “become a reality for many in the near future. Wall Street banking giant JPMorgan Chase & Co. (NYSE: JPM) confirmed Monday morning an agreement to acquire cxLoyalty Group Holdings, a leading loyalty and customer engagement solutions company. About CxLoyalty CxLoyalty is a U.S.-based privately-owned loyalty and customer engagement solutions company. According to CNBC, cxLoyalty is among the largest third-party credit card loyalty operators. The company boasts more than 3,000 employees and works with credit card giants Citigroup, Capital One, and Mastercard.

Loyalty group holdingsLoyalty groupCxloyalty groupJpmorgan chase coCapital oneWall streetElliott managementGlobal customer engagementMarianne lakeவிசுவாசம் குழு ஹோல்டிங்ஸ்விசுவாசம் குழுஜுப்ம்ொர்கண் துரத்து இணைமூலதனம் ஒன்றுசிட்டி குழுமம்சுவர் தெருஎலியட் மேலாண்மை

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