Credit card issuer Chase and online grocery platform Instacart on Wednesday (Jan. 19) announced an expansion of their partnership with Instacart’s first credit card, with Chase as the exclusive issuer and Mastercard as the exclusive payments network for the new offering.
The new Instacart Mastercard credit card is touted as “the first Chase co-branded card offering in the on-demand grocery delivery space,” according to the announcement. The card “will allow consumers to earn accelerated points on purchases across the Instacart marketplace,” comprising more than 700 national, regional and local grocers and retailers.
“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,” Instacart Chief Operating Officer Asha Sharma said in the announcement.
The Instacart Mastercard is expected to be available in 2022, with several benefits, perks and savings included for members. Chase and Instacart have been working together since June 2020 to provide Instacart offers and savings to Chase cardmembers. Limited-time offers include a free Instacart Express membership and $10 off orders of $35 or more through April 30.
Noting consumer habits have changed with the increased availability of digital services, Ed Olebe, president of Chase Co-Brand Cards, said the firm is “excited to introduce a new category of co-branded cards for Chase” through its partnership with Instacart.
The new Instacart Mastercard is a World Elite Mastercard, meaning cardholders will have access to World Elite Mastercard benefits, including complimentary 24/7 concierge service and access to Mastercard Priceless Experiences.
“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,” said Sherri Haymond, executive vice president, Digital Partnerships at Mastercard. “It’s critical that we design and deliver the best payments and loyalty experiences for our cardholders, regardless of where or how they pay.”
Earlier this month, Instacart launched its Ready Meals Hub, with prepared foods from a number of Ahold Delhaize- and Kroger-owned grocery brands already available as “cost-effective alternatives to restaurant takeout.”