Thursday, electronic payments services provider Visa Inc. (V) and financial services company JPMorgan Chase & Co. (JPM) announced a consumer pilot that delivers merchant offers directly to the mobile devices of Chase credit and debit cardholders in the Phoenix metropolitan area.
The offers, which include merchant discounts to specials, are tailored to match the personal interests selected by Chase cardholders and will be redeemable at the point of sale or the web site of more than 50 participating merchants.
Merchant offers to mobile devices will be delivered through short message service as it is very popular among consumers aged 18 to 34, who are the primary group selected for the program.
The Chase card holders who sign for the service can also personalize the service using the option to set preferences on the program's web site, choosing offers and merchants that are most relevant and compelling for them.
The merchants who participate in the pilot include Chico's FAS, Inc., Circle K, Macy's, Marriott, Old Navy, Papa John's Pizza and Robeks Juice. Chase and Visa will review the program in the fourth quarter to evaluate the impact of mobile offers on stakeholder interest, cardholder engagement and card usage, the companies said.
V is currently trading at $73.67, down $0.90 or 1.21% and JPM at $36.33, down $0.67 or 1.81% on NYSE.
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