DoorDash Inc (NYSE:DASH) shares are trading higher Tuesday morning. The company announced that it will launch a credit card in partnership with JPMorgan Chase & Co (NYSE:JPM) and Mastercard Inc (NYSE:MA).

DoorDash and Chase, the largest co-brand card issuer in the U.S., announced plans to launch the first-ever DoorDash credit card, with Mastercard as the exclusive payments network for the new card. The DoorDash card will allow cardmembers to unlock benefits and earn rewards on purchases both on and off the DoorDash platform.

The new co-branded card expands the current relationship between the three companies. Chase and DoorDash have worked together since 2020, offering a range of complimentary DashPass membership perks.

"Connecting people with the best of their neighborhoods is core to our mission, and we're excited to unlock even more of that value for customers with this first-of-its-kind credit card," said Usman Cheema, senior director of global partnerships at DoorDash.

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DASH Price Action: DoorDash has a 52-week high of $152.49 and a 52-week low of $50.44.

The stock was up 3.44% at $52.48 at time of publication, according to Benzinga Pro.

Photo: GoToVan from Flickr.