Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
The card represents the latest attempt by the daily deal operator to build loyalty.
LivingSocial is trying a new tactic to keep its bargain-seeking customers loyal. The daily deal operator plans to offer a co-branded Visa credit card with JPMorgan Chase & Co. to all of its North American members.
The card, which will not have an annual fee, will reward cardholders who make 10 purchases a month with 10 Deal Bucks, which are LivingSocial credits redeemable for $10 worth of vouchers on the site.
Consumers may receive additional benefits from using the card at merchants that regularly offer deals with LivingSocial. Those businesses will have ways to inform consumers about the benefits, says a LivingSocial spokesman, without giving details.
The card will be the first time that LivingSocial offers Deal Bucks to consumers outside of its Plus loyalty program that it began testing in November. The Plus loyalty program, which costs $20 per month, gives consumers $25 in Deal Bucks credits and access to deals unavailable to other shoppers.“We’re always looking for new ways to innovate and bring additional value to customers and merchants,” the spokesman says.
LivingSocial does not say how many members it has in North America, but the operator says it has 60 million members worldwide.