JPMorgan Chase & Co, one of the biggest card issuers and transaction processors, said it has bought Silicon Valley firm Bloomspot Inc to expand its consumer marketing programs for merchants. The deal, terms of which were not disclosed, will let the bank deliver a range of targeted advertisements, coupons and other discounts to cardholders on behalf of stores that are also customers of the bank, said Jeff Kinder, president of Chase Offers.Chase may deliver the ads on its customer websites and use systems to deduct personalized discounts when customers pay merchants with their cards. Chase.com ranks among the 30-most visited websites, Kinder said.Other financial companies with card businesses, such as Bank of America Corp and American Express Co, have also added digital tools as the industry builds on a marketing history that goes back to stuffing promotions into envelopes with monthly bills to customers.Chase expects the new tools to bring in revenue by encouraging customers to make card purchases, for which it receives processing fees, and by being paid by merchants for marketing services, Kinder said.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC traded higher by 2.95% or $0.33/share to $11.52. In the past year, the shares have traded as low as $5.21 and as high as $11.49. On average, 152224000 shares of BAC exchange hands on a given day and today's volume is recorded at 183696880.
JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. Shares of JPM traded higher by 2.3% or $1.0/share to $44.53. In the past year, the shares have traded as low as $30.83 and as high as $46.49. On average, 23566500 shares of JPM exchange hands on a given day and today's volume is recorded at 24973756.
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