JP Morgan Chase to acquire the global loyalty business from cxLoyalty Group.

JP Morgan Chase, a financial holding company that is engaged in investment banking and financial services, agreed to acquire the global loyalty business from cxLoyalty Group, a company that designs, develops, and markets customer loyalty programs. Financial terms were not disclosed. “This investment demonstrates our commitment to deliver exceptional travel benefits at-scale to our large and rapidly growing customer base. People across the globe want to vacation and travel again, and hopefully that will become a reality for many in the near future. Acquiring the travel and rewards businesses of cxLoyalty will provide enhanced experiences to our millions of Chase customers once they are ready, comfortable and confident to travel,” Marianne Lake, JP Morgan Chase CEO of Consumer Lending.