image credit: Ken Lund / Flickr

JPMorgan is acquiring a major credit card rewards business in a bet that travel will rebound next year

December 28, 2020


JPMorgan Chase has agreed to purchase one of the biggest third-party credit-card loyalty operators in a bet that pleasure travel will rebound sharply after the coronavirus pandemic subsides, CNBC has learned.

The bank agreed Monday to acquire the technology platforms, travel agency, gift card and points businesses of cxLoyalty Group, a privately-held Stamford, Connecticut-based company, according to a person with direct knowledge of the deal.

Read More on CNBC