NEW YORK CITY (dpa-AFX) - Amazon.com Inc. (AMZN) is fielding bids to replace JPMorgan Chase & Co. as the issuer on its popular co-brand credit card, Bloomberg reported citing people familiar with the matter. American Express Co. and Synchrony Financial are among those bidding on the portfolio.
However, JPMorgan is willing to part with the Amazon portfolio, the report said.
JPMorgan's current Amazon card comes with a set of rewards, including offering the e-commerce giant's Prime members 5% cash back on purchases made on its site and at its subsidiary Whole Foods Market.
Amazon already offers a card with AmEx that's targeted at small-business owners. The firm has also long partnered with Synchrony on its private-label card and the two debuted a secured card together in 2019.
Copyright RTT News/dpa-AFX
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