31 August 2016
Find out more

MasterCard buys loyalty rewards specialist Truaxis

07 September 2012  |  8625 views  |  0 handshake

MasterCard has acquired Truaxis, a US firm that provides credit and debit card-linked offers to consumers through merchants and banks. Financial terms of the deal were not disclosed.

Founded in 2007 as BillShrink, the Silicon Valley-based outfit initially acted as an online service that helped users save money through personalised recommendations on things such as reducing bills.

Rebranded Truaxis, it has since moved into the rewards business, helping banks and retailers deliver personalised offers to customers. Last year it won the Innotribe start-up competition at Sibos in Toronto, netting $50,000 with its StatementRewards system, which analyses customer's recurring bills to offer better deals via their online banking site.

MasterCard says that integrating the platform with its own network will allow for real-time offer delivery coupled with advanced analytics to ensure consumers get more meaningful deals, merchants gain efficiencies in driving sales and financial institutions build greater loyalty with customers.

In a blog post explaining the acquisition, Nandan Mer, group executive, global consumer credit, MasterCard, cites research from Aite Group suggesting that around 430 million card-based transactions will be linked to a card-based offer this year and that figure will increase to 1.7 billion by 2015.

"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," says Mer.

Schwark Satyavolu, co-founder and CEO, Truaxis, adds: "Being part of the MasterCard family allows us to scale our technology platforms and continue to grow our issuer distribution pipeline globally to deliver highly personalised offers to consumers, through their preferred channels."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

MasterCard enters Myanmar with bank licensing deal

MasterCard enters Myanmar with bank licensing deal

06 September 2012  |  4652 views  |  0 comments
MasterCard joins EUR25m iZettle funding round

MasterCard joins EUR25m iZettle funding round

15 June 2012  |  11802 views  |  10 comments
MasterCard unveils digital wallet and open API

MasterCard unveils digital wallet and open API

08 May 2012  |  13378 views  |  0 comments
MasterCard moves in on daily deals market

MasterCard moves in on daily deals market

18 April 2012  |  7975 views  |  1 comments
MasterCard releases new e-commerce fraud detection tool

MasterCard releases new e-commerce fraud detection tool

28 March 2012  |  10968 views  |  1 comments
Visa partners Shopkicks on mobile rewards

Visa partners Shopkicks on mobile rewards

21 November 2011  |  6676 views  |  0 comments
Truaxis and Guardtime win Swift innovation challenge

Truaxis and Guardtime win Swift innovation challenge

22 September 2011  |  9778 views  |  0 comments
Google goes for loyalty, not payments at the check-out

Google goes for loyalty, not payments at the check-out

06 May 2011  |  16992 views  |  2 comments | 1 tweets
BillShrink, SmartyPig ramp up as bank customers feel the crunch

BillShrink, SmartyPig ramp up as bank customers feel the crunch

29 September 2009  |  4016 views  |  0 comments
MasterCard launches turnkey rewards package

MasterCard launches turnkey rewards package

30 June 2003  |  4956 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreVisit www.abe-eba.euVisit equens.com

Top topics

Most viewed Most shared
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
9503 views comments | 23 tweets | 26 linkedin
Cultural change crucial in digital transformationCultural change crucial in digital transfo...
7076 views comments | 11 tweets | 10 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
6829 views comments | 15 tweets | 14 linkedin
Mondo becomes MonzoMondo becomes Monzo
6514 views comments | 14 tweets | 9 linkedin
hands typing furiouslyBlockchain: Some Remarkable Announcements!
6295 views 0 | 5 tweets | 14 linkedin

Featured job

Find your next job