When it comes to saving money and finding more convenient ways to redeem rewards, consumers, no doubt, are turning to technology and digital daily-deal services to meet their needs.
But there is another trend on the rise: card-linked offers. Did you know that according to the Aite Group:
- in 2012, approximately 430 million card-based transactions will be linked to a card-based offer; and
- by 2015, that number will increase to 1.7 billion?
This is where MasterCard and our acquisition of Truaxis come in. Truaxis may not be as widely known by consumers as it operates behind the scenes with merchants and financial institutions to offer highly-personalized and relevant credit and debit card-linked offers. As we integrate Truaxis’ market-leading technology with the MasterCard payment network, we will not only enable seamless delivery of offers through digital channels like online banking, a mobile app, or a mobile wallet, but also leverage the advanced analytics capabilities of MasterCard to improve offer relevance for consumers.
Simply put, our new card-linked rewards program will be a win-win-win for retailers, banks, and consumers alike:
- Retailers benefit from a new marketing channel, which will provide cutting-edge data analytics to better tailor offerings and improve customer loyalty (which of course translates into reduced costs).
- Banks benefit from increased loyalty and card spend, as their card moves to that preferred “top-of-wallet”position, and the new merchant-funded offers can also improve existing rewards programs.
- Consumers benefit the most with more convenient “paper-less” customized deals and discounts.
All great benefits in moving towards a world beyond cash.. as no cash transaction could ever deliver legitimate intelligent offers like our new platform will.
We are excited to bring the Truaxis technology and importantly, its valued talent on board. Let us know your thoughts and how we can help make digital offers more of a perfect fit for you.