MCLEAN, Va.—Capital One has acquired a four-year-old online-shopping start-up in its latest effort to offer tech services that drive loyalty to the bank's credit cards.
The bank purchased Wikibuy for an undisclosed amount, CNBC reported.
Two-million members use Wikibuy to automatically find low prices and coupon codes and earn loyalty points.
“Big banks have been snapping up fintech firms to better serve customers who have quickly become accustomed to digital products. For Capital One, the move fills out its strategy of helping customers save time and money while shopping online,” CNBC said.
In 2016, the bank bought Paribus, which helps users get refunds when prices drop after a purchase. The company also created tools like Second Look, which cuts down on accidental or fraudulent transactions, CNBC noted.