Instacart and DoorDash to Launch Credit Cards

Food and grocery delivery apps saw a big spike in new customers over the last year as the pandemic locked people in and dining in was not an option. Now grocery delivery app Instacart Inc and food delivery app DoorDash Inc are planning to get into the credit card business. The information comes from The Wall Street Journal, citing people familiar with the matter.

JPMorgan Chase will issue the Instacart credit card. The bank is also bidding to partner with DoorDash, but 10 other issuers are in play as well.

As far as rewards, there aren’t many details in the report. But the Instacart card will offer 5% cash back on their purchases. It is not expected to launch until next year, The Wall Street Journal reports. DoorDash on the other hand is recruiting partner restaurants and stores to offer accelerated rewards, promotional offers and discounts to cardholders.