Amazon reviewing bids to replace JPMorgan as credit card partner – source

Amazon reviewing bids to replace JPMorgan as credit card partner – source

The logo of Amazon is seen at the company logistics center in Boves, France, August 8, 2018. REUTERS / Pascal Rossignol / File Photo

E-commerce giant Amazon.com Inc (AMZN.O) is fielding bids to replace US lender JPMorgan Chase & Co (JPM.N) as the issuer on its co-branded credit card portfolio, a person familiar with the matter told Reuters.

Amazon has sent out a ‘request for proposal’ for the portfolio, the person said, asking not to be identified as the matter was not public yet.

JPMorgan could fetch a 15% premium if it is replaced as partner in the portfolio, which contains more than $ 15 …

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Amazon reviewing bids to replace JPMorgan as credit card partner - source

 

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