The deal could enable J.P. Morgan to tailor discounts and other deals for retailers to cardholders based on spending patterns. The company can use its internal data on spending patterns and its scale in consumer and merchant banking to develop loyalty programs across its customer base.
Sources mention that J.P. Morgan is expected to pay about USD 35 million for Bloomspot.
J.P. Morgan Chase is a global financial services firm with operations in more than 60 countries. The firm provides investment banking, financial services for consumers, small-business and commercial banking, financial transaction processing, asset management and private equity.
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