Chase is launching a new unit allowing marketers to promote deals and discounts to consumers based on what they typically buy.
Chase is implementing a new service that lets advertisers market to consumers with targeted ads and discounts based on their spending habits. The New York-based financial institution tells FOX Business that Chase Media Solutions is the first bank-led platform of its kind. The company explains that the benefits include the ability for businesses to target customers based on their purchase history, a better return on investment for advertising, and a verified audience.
RELATED: Chase customers sue bank over 'predatory' fees on bounced checksAccording to the Wall Street Journal, this advertising initiative doesn’t involve selling ad spots on its app or in its branches and only charges merchants a fee when a customer uses a deal to make a purchase.This business strategy is also akin to efforts from Best Buy and Uber, which have begun selling advertising space on their apps and websites.
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