NEW YORK—JPMorgan Chase, which like many issuers already offers travel-related card rewards, is now expanding and moving into the travel agent business.
For the past 18 months, the nation’s biggest bank has been assembling the pieces to launch a full-service travel business where “customers can plan and book trips ranging from a simple domestic flight to an extravagant safari,” The Wall Street Journal reported.
“It bought a booking system, a restaurant review company and a luxury travel agent. It is building its own airport lounges and a force of thousands of travel agents,” The Journal said.
A new website will launch in the coming months, according to the report.
“Travel has become one of the most important spending categories for banks and credit card issuers, and JPMorgan wants a bigger piece of it. The bank hopes to turn those traveling customers into lifelong Chase fans, drawing in more of their spending and other financial needs,” The Journal reported.
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