Chase Launches Chase Offers

22 de Noviembre, 2018

Tiempo estimado de lectura: 2 minutos

The feature offers deals from more than 150 merchants including retailers, restaurants, and Chase’s existing merchant partners, such as 10% back on a total purchase or $50 back once a certain amount is spent.

Users can select the offers through the app and redeem them with Chase debit or credit cards. And customers will also receive personalized offers through email.

Chase Offers could allow the firm to attract both new cardholders and increase app engagement.

  • Mobile banking ubiquity and a downturn in new users has forced banks to implement new strategies to boost engagement. Chase counts 32.5 million active mobile banking customers as of Q3 2018 — which marks an 11% year-over-year (YoY) increase from Q3 2017, but also a slight deceleration from the 12% annual growth it saw in Q3 2017. This represents a slight decline that’s consistent with the downturn several banks saw in new mobile banking users. Most US consumers already use mobile banking: 86% of millennial respondents to Business Insider Intelligence’s Mobile Banking Competitive Edge study said they’ve used mobile banking in the past week, indicating saturation in the space. Chase Offers can be one effective way to engage users and keep them using their apps more now that mobile banking is virtually universal.

Rewards and promotions can be an effective way to boost spending and engagement. The near-ubiquity in mobile banking necessitates diversity in offerings from firms to onboard new customers and engage existing customers. But rewards can be expensive — Chase has had the highest rewards spending since 2016 due in part to its ultra-premium Sapphire Reserve card — so partnering with merchants and retailers that might help provide the reward could be a cost-effective way to offer them. Implementing additional rewards and tying them in-app can increase spending on cards and engagement with the app.

Fuente: Business Insider

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