11th January, 2017
Amazon.com Inc. is trying to ring up more sales with a new credit card aimed at its most loyal customers.
The online retailer AMZN, -0.13% is introducing a new card for Prime customers offering 5% back on all Amazon.com purchases. The card, issued by J.P. Morgan Chase & Co. JPM, +0.29% and branded with the Visa Inc. V, -0.54% logo, doesn’t have an annual fee or foreign-transaction fees.
The card represents the latest in many offers that are increasingly popular with consumers because they provide cash or discounts on future purchases. “We are adding even more value to Prime by offering rewards on Amazon and everywhere else you shop,” Max Bardon, Amazon vice president said in a press release.
Amazon doesn’t disclose how many customers are members of its Prime service, which typically costs $99 a year in exchange for free two-day shipping on eligible purchases, video streaming and other features.
Source: Market Watch