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Amazon Explores Replacing JPMorgan in Credit-Card Partnership - Rayyes Finance and Market News
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Amazon Explores Replacing JPMorgan in Credit-Card Partnership


Amazon.com Inc. is fielding bids to replace JPMorgan Chase & Co. as the issuer on its popular co-brand credit card, according to people familiar with the matter.

American Express Co. and Synchrony Financial are among those bidding on the portfolio, according to the people, who asked not to be identified discussing the negotiations. Representatives for the lenders declined to comment, while a spokesperson for Amazon didn’t have immediate comment when reached by email on Tuesday.

JPMorgan is willing to part with the Amazon portfolio, according to some of the people familiar with the matter. Banks in recent years have loaded up their cards with rich perks, making it harder for lenders to turn a profit, especially in the world of co-brand cards where revenue is often shared with the merchant partner.



Read More: Amazon Explores Replacing JPMorgan in Credit-Card Partnership

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