J.P. Morgan Chase has today announced the acquisition of the rewards division of cxLoyalty Group Holdings for an undisclosed amount. cxLoyalty Group Holdings is one of the biggest third party credit card loyalty operations. As part of the deal Chase will acquire the technology platforms, full-service travel agency, gift card, merchandise, and points bank businesses and take roughly half of cxLoyalty Group Holdings 3,100 employees. cxLoyalty currently serves many other card issuers including Citigroup, Capital One and payment network Mastercard.
cxLoyalty was responsible for running Connexions Loyalty who handled Chase Sapphire Reserve travel redemptions before Chase made the switch to Expedia in 2018.