Chase is making a play to get into the music and ticketing business and use its Chase Pay product to interact with customers in new ways and get more of their data.
The largest U.S. bank by assets inked a multi-year endorsement deal with Golden State Warriors’ star player Steph Curry in March of 2016; on Monday, it was named the official bank of the Warriors and it also has naming rights sponsor to the future home of the NBA championship team, Chase Center, opening in 2019.
“[Chase Pay] is not only a different way to pay; there’s a lot more information on you as a customer that will help us be more targeted” that Chase can gather through the app, said Frank Nakano, Chase’s head of sports and entertainment sponsorships. It will “allow us to know that if you’re at a game five times in a month, we should push a special reward to you because we know you indeed were in the building and what you bought. It’s on us to make [Chase Pay] more enticing to the customer.”
The app is available to New York customers, but it will certainly come to San Francisco in time for the opening of Chase Center.
Until now, it hasn’t been clear what Chase’s plans are for its Pay product. It hasn’t published any user numbers and it’s not obvious why customers should use it instead of Apple Pay, Samsung Pay, or the mobile app of one of its quick service restaurants partners that probably offers them some kind of rewards or loyalty incentive. Chase seems aware of this; it sponsored a research report conducted by Javelin Strategy that says for mobile payments to take off, retailers need to offer value beyond the actual payment at the point of sale that will bring more convenience to the customer or make them feel they’re getting something out of it.
Read the full story on tearsheet.co
More in Marketing
At the Las Vegas Grand Prix, Mastercard joins a pack of consumer brands flocking to Formula One
For marketers looking to align their brands with F1’s expanded appeal to audiences, the Las Vegas Grand Prix is providing a slip road into the sport.
Why PepsiCo and EA are expanding their partnership into mobile: A Q&A with PepsiCo vp of global sports and entertainment partnerships Adam Warner
The planned, multi-year nature of PepsiCo’s integration into “EA Sports FC” reflects that both PepsiCo and Electronic Arts are playing the long game as they look to step up the presence of ads inside and beyond EA’s portfolio of sports titles.
Key takeaways from Digiday’s 2024 Gaming Advertising Forum
Now that gaming has gone from a buzzword to a regular presence in brands’ media mix, marketers are more closely scrutinizing the value and ROI of their investments in this channel — and the platforms are rising to the challenge. Here are some of the biggest takeaways from this week’s Gaming Advertising Forum.