Chase and Instacart to Launch a Co-branded Credit Card

This week Chase and Instacart announced that the two companies are launching an Instacart co-branded credit card.

Since June 2020, the bank and food delivery service have partnered to offer benefits to Chase cardholders, including complimentary Instacart Express membership and discounts.

The Instacart Mastercard® credit card will be the first co-branded card offered by a food delivery service and will give consumers the ability to earn accelerated points on Instacart purchases and give several other benefits, perks and savings.

According to the joint press release, the card will be released to the public sometime this year.

According to a recent survey from PowerReviews of 8,000 U.S. grocery shoppers, 73% of respondents had purchased grocery items online within the most recent three months of being surveyed.

The new Instacart Mastercard® credit card will be the first Chase co-branded card offering in the on-demand grocery delivery space. The card will allow consumers to earn accelerated points on purchases across the Instacart marketplace, which today includes more than 700 beloved national, regional and local grocers and retailers. The card is expected to launch in 2022 and will also offer a number of other benefits, perks and savings.

“Giving people access to the food they love and essentials they need is central to everything we do at Instacart,” said Asha Sharma, Chief Operating Officer, Instacart. “With the new Instacart credit card, we’ll be able to deliver even more ways for customers to save as they shop, and make Instacart the most affordable way for people across North America to get the food they want, from the retailers they love, delivered faster than ever before.”

“The adoption of more convenient digital services has accelerated, and consumers’ habits have clearly evolved,” remarked Ed Olebe, President of Chase Co-Brand Cards. “We are excited to introduce a new category of co-branded cards for Chase through this partnership with Instacart, a true leader in the grocery delivery space.”

“Our lives are more digital than ever, from how we shop to how we work, travel and connect. And consumers’ expectations about their experiences with brands are changing. It’s critical that we design and deliver the best payments and loyalty experiences for our cardholders, regardless of where or how they pay,” said Sherri Haymond, executive vice president, Digital Partnerships at Mastercard. “The new Instacart Mastercard is a prime example of the evolution of digital payments– a card tailored to customers, that earns relevant rewards as they live their lives. It’s a powerful way for Instacart to engage new customers and enhance the experience for existing ones.”

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.