MasterCard acquires rewards provider
PURCHASE, N.Y. — MasterCard has acquired Truaxis, Inc., a Silicon Valley, California-based provider of relevant credit and debit card-linked offers to consumers through merchants and financial institutions.
“The offer and rewards industry is rapidly evolving as consumers have demonstrated their desire for customized offers and savings that truly matter to their individual lifestyles,” said Tim Murphy, chief product officer for MasterCard. “By adding Truaxis’ expertise, its intellectual property and a talented team of software engineers to MasterCard, we increase our capabilities to offer merchants and financial institutions a solution that helps them better connect with consumers while evolving the model from the traditional coupon or daily deals offers programs that are popular today.”
With the acquisition of Truaxis, MasterCard said it can now give customers targeted offers based on their profiles.
“Consumers have simply tuned out to irrelevant offers that reach them today through daily emails,” said Truaxis co-founder and CEO Schwark Satyavolu. “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 personalized offers to consumers, through their preferred channels. Together, we will increase the affinity and success of loyalty programs for financial institutions and merchants while delivering more relevant offers to cardholders worldwide.”