The bank is also using its sponsorships with stadiums and venues to help advertisers reach larger audiences, for instance through its Madison Square Garden billboard in New York and around New York’s Occulus transit hub, he said.

“It’s evolving to where it gives brands an opportunity to do more interesting integrations with us,” Muhlstock said.

Differentiating in commerce media

Muhlstock acknowledged that “there is a lot of confusion” around commerce media because of the nuances in how companies pitch their advertising solutions. 

“It is a complicated category when you have so many entrants,” he said. “The reality is, most brands may only pick five retail media networks to run on, so how do we get into that mix?”

One way Chase wants to differentiate is by focusing broadly on merchants that sell items both online and in stores, since Chase Offers apply to both types of shopping. Chase can also fine-tune offers to only find new customers or retarget existing customers based on where people use their Chase accounts to shop. Unlike individual retailers with media networks, Chase’s data includes shopping across multiple retailers.

Chase also works with other brands like DoorDash and Southwest Airlines to promote Chase Offers, which could open a new way to sell ads off of its own properties in the future, Muhlstock said. The key, he said, is keeping customers’ data secure.

“I can see a day where we will expand into other channels,” Muhlstock said. “There are ways that we can start to do that, and I think with our co-brand partners, it becomes a lot easier.”