WILMINGTON, Del. & SAN FRANCISCO & PURCHASE, N.Y.—Instacart is releasing its first credit card through a partnership with Chase, according to a news release.
The new Instacart Mastercard credit card will allow users to earn accelerated points on purchases across the Instacart marketplace. The card is expected to launch in 2022 and will have other benefits, perks and savings.
“Giving people access to the food they love and essentials they need is central to everything we do at Instacart,” said Asha Sharma, chief operating officer, Instacart. “With the new Instacart credit card, we’ll be able to deliver even more ways for customers to save as they shop, and make Instacart the most affordable way for people across North America to get the food they want, from the retailers they love, delivered faster than ever before.”
The new co-branded card expands the current relationship between Chase and Instacart. Since June 2020, the companies have worked together to provide limited time Instacart offers and savings to existing Chase cardmembers. Chase and Instacart are currently offering eligible Chase cardmembers a free Instacart Express membership and $10 off their next order of $35 or more.
Instacart Express membership provides unlimited free deliveries and reduced service fees on all orders $35 or more. Subscription services are being utilized frequently by restaurants and retailers.
7-Eleven has introduced a subscription service, offering free delivery, products and rewards. The 7NOW Gold Pass is available now for $5.95 a month, and 7-Eleven says the subscription pays for itself in about three delivery orders per month.
Earlier this month, Taco Bell debuted the Taco Lover’s Pass, a digital taco subscription service, which gives users a taco a day for 30 consecutive days at participating U.S. locations for $10. Salad chain Sweetgreen announced it is rolling out a pilot salad subscription program called Sweetpass that allows subscription members to receive $3 off their purchase of $9.95 or more each day for $10 a month.
Panera Bread’s loyalty program is subscription based and focused on unlimited coffee and hot tea for $8.99 a month plus exclusive rewards for subscribers, but many subscribers don’t leave the restaurant with just a cup of coffee because Panera is focused on the cross-sell and the upsell. It’s also a simple and transparent loyalty model.
NACS Daily reported that loyalty programs boost visits and spend for retailers. A report by Paytronix Systems Inc. found that most Paytronix loyalty programs consistently boost visits and spend by 18-30% for each program member.
NACS Magazine dove into loyalty programs and how they can provide convenience retailers with critical consumer insights and a competitive edge in “Just Rewards.”