In a surprise move by JPMorgan Chase, a set of customer loyalty specialists features have been bought from cxLoyalty Group Holdings. The official announcement regarding the deal or financial terms is yet to be done.
The recently bought assets include gift card merchandise; points bank business, full-service travel agency, and leading technology platforms of cxLoyalty. The remaining assets, i.e., customer engagement division and other continuing businesses of cxLoyalty, will be controlled by the current investors of the company.
The other loyalty assets will receive new investment in areas like servicing, content, and technology as JPMorgan is the new owner.