JPMorgan to launch travelling agency

JPMorgan has purchased a reserving system, a restaurant evaluation firm, as well as a luxurious journey agent to set its plan in motion and is currently working on building branded airport lounges to further assist its clients.

The company already has a slice of the travelling global market as it launched personal bank cards that allows customers to build their journey rewards and later receive a money compensation on its Ultimate Rewards reserving website.

Towards a global development

JPMorgan’s latest development plans aim to attract over USD 15 billion in bookings in 2025, which would make it the third-biggest journey agent in the US. Once the travelling sector is covered, the company is also taking into consideration a further expansion towards the automobiles and real estate market.

As travel has become one of the most important spending categories for banks and credit card issuers, JPMorgan is planning to turn at least one part of its travelling customers into lifelong Chase users, creating a larger user database and increasing its product portfolio to better cater to the needs of its clients.