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JPMorgan Chase & Co. (NYSE:JPM) shares are trading lower today. Chase expanded and extended its partnership with DoorDash, Inc.(NASDAQ:DASH) to add new grocery benefits for Chase Sapphire and other consumer-branded cards.
Beginning today, Chase Sapphire and other qualifying Chase cardholders will receive ongoing benefits on orders from more than 150,000 grocery, convenience, and non-restaurant locations through DoorDash.
Additionally, the partnership offers a free DashPass membership for existing cardholders and new customers who enroll now through December 31, 2027.
DashPass, at $9.99 per month or $96 annually, saves members an average of $5 per eligible order. Since 2018, it has saved users over $10 billion globally, making it the most affordable way to order on DoorDash.
Usman Cheema, Global Head of Business Development for DoorDash, said, “In addition to continuing to offer DashPass as a benefit for eligible cardmembers, we’re proud to unlock more DoorDash savings for Chase cardmembers to order from a wide variety of categories available on DoorDash including grocery and convenience stores.”
“Introducing these new benefits in addition to our ongoing offer of DashPass showcases our commitment in bringing the utmost convenience that we can to our cardmembers’ lives,” said Dana Pouwels, Head of Strategic Card Partnerships at Chase.
Last month, JPMorgan reportedly started deploying its generative AI tool, informing employees that its proprietary version of OpenAI's ChatGPT can perform the tasks of a research analyst.
Last month, JPM reported that second-quarter revenue rose 22% year over year to $50.2 billion, beating the consensus of $42.3 billion, and adjusted EPS of $4.40, exceeding the consensus of $4.19.
Investors can gain exposure to the stock via IShares U.S. Financial Services ETF (NYSE:IYG) and SPDR Select Sector Fund – Financial (NYSE:XLF).
Price Action: JPM shares are down 2.26% at $208.00 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Diego Thomazini on Shutterstock
