JPMorgan building a giant travel agency
Jul 30, 2022, 9:07 pm
#1
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JPMorgan building a giant travel agency
"For the previous 18 months, the nation’s largest financial institution has been assembling the items to launch a full-service journey enterprise the place prospects can plan and guide journeys starting from a easy home flight to an extravagant safari.."
See https://www.newsncr.com/business/jpm...travel-agency/
Anyone have any insight to this plan?
See https://www.newsncr.com/business/jpm...travel-agency/
Anyone have any insight to this plan?
Last edited by philemer; Jul 30, 2022 at 9:13 pm
Jul 31, 2022, 6:45 am
#2
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It appears there is a recent Wall Street Journal article with a similar title: https://www.wsj.com/articles/jpmorga...nt-11659182401 WSJ articles are behind a paywall, but are often republished in the following days in other papers.
Also, see this article about a travel agency that JP Morgan recently acquired: https://www.travelweekly.com/Travel-...an-acquisition
Also, see this article about a travel agency that JP Morgan recently acquired: https://www.travelweekly.com/Travel-...an-acquisition
Marianne Lake, JPMorgan's co-CEO of consumer and community banking, said travel is at the core of the company's card business. ...According to Lake, in the U.S. market, $1 in every $4 put on a Chase card is for leisure travel, while $1 in every $3 spent on leisure travel comes from a Chase customer.
Jul 31, 2022, 7:05 am
#3
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Similar to the Amazon model. Sure retail is their bread and butter, but limiting yourself to that market leaves so much more money on the table. Chase (and many other credit card companies) have learned that credit cards give them an advantage in the travel business.
There are also 9 Chase airport lounges in the works at the moment. Chase could really have something here if they stick to travel. I hope we don't continue to see expanded coupon book models so I can get "free premium socks and a monthly NYT subscription"
There are also 9 Chase airport lounges in the works at the moment. Chase could really have something here if they stick to travel. I hope we don't continue to see expanded coupon book models so I can get "free premium socks and a monthly NYT subscription"
Jul 31, 2022, 1:34 pm
#4
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"For the previous 18 months, the nation’s largest financial institution has been assembling the items to launch a full-service journey enterprise the place prospects can plan and guide journeys starting from a easy home flight to an extravagant safari.."
See https://www.newsncr.com/business/jpm...travel-agency/
Anyone have any insight to this plan?
See https://www.newsncr.com/business/jpm...travel-agency/
Anyone have any insight to this plan?
Aug 4, 2022, 11:52 am
#5
Join Date: Oct 2007
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Right now, with the current Chase travel vendors (which are only under the UR portal), it is hard to see why one would use Chase to book travel. However, we have seen the 5% offer on travel booked via Chase is on many cards (including no AF ones).
I would still prefer Chase plug into a good booking engine line Booking.com (and all of its umbrella), but I think Chase would need to become closer to the customer in their planning. Frankly, if Chase was able to bring in even some of their partners like Southwest into their own engine, that would be a big deal.
I agree that there is a whole lot on the table here because they see the spend, but being a better option than what is out there is tough.
I would still prefer Chase plug into a good booking engine line Booking.com (and all of its umbrella), but I think Chase would need to become closer to the customer in their planning. Frankly, if Chase was able to bring in even some of their partners like Southwest into their own engine, that would be a big deal.
I agree that there is a whole lot on the table here because they see the spend, but being a better option than what is out there is tough.