In what is being touted as the ‚Äúfirst ever partnership of its kind‚ÄĚ, the card promises to give LivingSocial users additional value on purchases made, with special cardholder-only benefits and offers.
Based in Washington, D.C., LivingSocial is one of Groupon‚Äôs most well-known daily-deal rivals, letting users discover local experiences at what it promises will be the best prices, and it now has more than 65 million members in 22 countries. Indeed, we‚Äôve covered LivingSocial on a number of occasions in the past, most recently when it acquired online ordering software firm ONOSYS for ‚Äėat least $6.5m‚Äô.
‚ÄúLivingSocial constantly strives to find new ways to energize the connection between our merchant partners and members, and the LivingSocial Rewards Visa Card is another example of how we are leading the industry in providing new and useful ways to promote these interactions,‚ÄĚ says John Bax, Chief Financial Officer for LivingSocial. ‚ÄúChase‚Äôs proven history and commitment to small businesses ‚Äď the majority of our merchant base ‚Äď makes them the perfect partner to offer this card with.‚ÄĚ
Members will have the opportunity to earn points at an accelerated rate, including 5 points per $1 spent on LivingSocial purchases, 3 points per $1 spent on dining and 1 point per $1 spent on all other purchases. There are no limits on the amount of points a cardholder can earn, and to give some context to this scheme, 100 points is equal to one LivingSocial Deal Buck. These ‚Äėbucks‚Äô are LivingSocial credits which are automatically applied to a holder‚Äôs next eligible purchase on LivingSocial.com.
JP Morgan Chase & Co. is a global financial services firm operating in more than 60 countries, serving in excess of 50 million consumers and small businesses through more than 5,500 bank branches, 17,500 ATMs, credit cards, mortgage offices, and online and mobile banking.
‚ÄúLivingSocial provides a valuable service to consumers and we are pleased to offer social-buying enthusiasts a product that enhances their shopping experience with the ability to earn rewards for their purchases,‚ÄĚ says Dan Dougherty, director at Chase Card Services. ‚ÄúFor local merchants, LivingSocial has helped redefine how businesses connect with consumers to promote their products and services and increase sales. The LivingSocial Rewards Visa Card is yet another extension of Chase‚Äôs support of small businesses within our local communities.‚ÄĚ