Chase, the largest issuer of co-branded credit cards in the United States is increasing its dominance of the marketplace with a new credit card with Instacart. The new Instacart Mastercard® credit card will be the first Chase co-branded card offering in the on-demand grocery delivery space, and is expected to launch sometime in 2022.
New Instacart World Elite Mastercard in the Works
Chase and Instacart, the leading online grocery platform in North America, have announced an expansion of their existing partnership to make Chase the exclusive issuer of Instacart’s first credit card: the new Instacart Mastercard® credit card. As a part of this partnership, Mastercard will become the exclusive payments network for the new offering.
Coming sometime in 2022, the Instacart Mastercard® credit card will be the first Chase’s first co-branded card offering in the on-demand grocery delivery space. A World Elite Mastercard, 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 Evolution of Digital Payments”
“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, in a press release accompanying the news. “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,” said 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.”
Chase and Instacart Expand Relationship
The new co-branded card expands the current relationship between Chase and Instacart. Since June 2020, the companies have worked together to provide Instacart offers and savings to existing Chase cardmembers. Chase and Instacart are currently offering eligible Chase cardmembers a free Instacart Express membership and $10 off their next order of $35 or more, through April 30, 2022. Instacart Express membership provides unlimited free deliveries and reduced service fees on all orders $35 or more.
The current Instacart promotion runs through January 31, 2022, and applies to the following proprietary Chase credit cards:
Eligible Chase co-branded credit cards for the Instacart promotion include the following:
- Marriott Bonvoy™ Credit Card
- Marriott Bonvoy™ Premier Credit Card
- Marriott Bonvoy Boundless™ Credit Card
- Marriott Bonvoy Bold™ Credit Card
- Southwest Rapid Rewards® Credit Card
- Southwest Rapid Rewards® Plus Credit Card
- Southwest Rapid Rewards® Employee Credit Card
- Southwest Rapid Rewards® Premier Credit Card
- Southwest Rapid Rewards® Priority Credit Card
- Southwest Rapid Rewards® Performance Business Credit Card
- Starbucks® Rewards Visa® Card
- United Club Card
- United Presidential Plus Card
- United MileagePlus® Select Card
- United MileagePlus® Awards Card
- United MileagePlus® Card
- United Explorer Card