JPMorgan Chase is testing a credit card product for customers of its UK digital challenger bank, according to Bloomberg.
The bank's senior executives have been testing the cards within their mobile apps, says Bloomberg, citing sources.
JPMorgan is the world’s largest credit-card issuer, with $216 billion in outstanding loans. Last week it emerged that the lender is in discussions with Apple about taking over the tech giant's credit card programme from Goldman Sachs.
Launched in 2021, Chase UK has amassed around £20 billion in deposits, more than fellow digital challengers such as Monzo and Starling.
The venture is winning over customers through a slick digital experience and high standards of customer care. It won accolades as best British bank, current account and savings account at the 2023 British Bank Awards and is set to hit profitability next year.
It plans to initially roll out basic credit cards, with more options arriving over time, says Bloomberg.