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Both companies have witnessed a surge in order volumes over the last few months as consumers, hesitant to step out during the COVID-19 pandemic, take to their phones to get essential items delivered to their doorsteps.
JPMorgan Chase & Co (NYSE:JPM) will issue Instacart’s card and is also bidding to partner with DoorDash, which has received offers from more than 10 large banks, according to the report https://on.wsj.com/3s4K40E.
The Instacart credit card is not expected to launch until next year and cardholders would likely earn 5% cash back on their purchases, sources told the Journal.
DoorDash is also recruiting partner restaurants and stores to offer accelerated rewards, promotional offers and discounts to cardholders, according to a document reviewed by the newspaper.
The delivery companies declined to comment on the report.
