Bank of Montreal (NYSE:BMO) and Maplebear Inc. (NASDAQ:CART), operating as Instacart, announced a multi-year partnership Wednesday to give eligible Canadian BMO credit cardholders exclusive savings on grocery deliveries and everyday essentials.
Under the new partnership, eligible BMO credit cardholders in Canada can now access exclusive Instacart benefits, including complimentary memberships and monthly grocery discounts.
Premium BMO customers with World and World Elite Mastercard or Visa Infinite cards will receive six months of free Instacart+ membership and a $10 monthly credit on grocery orders over $50, delivering up to $120 in annual value.
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They can then renew Instacart+ for one year at a discounted rate of $79, before reverting to the standard $99 annual fee.
Other eligible BMO credit cardholders will receive three months of complimentary Instacart+ membership and a $5 monthly coupon on grocery orders over $50, providing up to $60 in annual value. Customers can then renew Instacart+ for a discounted rate of $79 for one year, before the standard $99 annual fee applies.
Andras Lazar, Head, Product, Partnerships & Innovation, North America Retail and Small Business Cards, BMO, said, “We are excited to partner with Instacart, an organization that shares our commitment to helping consumers save time and money and make real financial progress. Our partnership provides our clients with access to a broad range of grocery retailers, giving them convenience, more opportunities to save and a high level of flexibility.”
“With this partnership, eligible BMO credit cardholders can enjoy an Instacart+ membership, monthly savings, and access to grocers and retailers across Canada – making it easier than ever for customers to get the groceries and essentials they need most, delivered right to their door,” said Kirstie McCarter, Head of Partnerships at Instacart.
Price Action: BMO shares were trading lower by 0.89% to $126.28 at last check Wednesday. CART was down 0.66%.
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