MasterCard has purchased Truaxis to enhance its range of services. Truaxis will enable MasterCard to deliver offers and rewards to consumers’ credit and debit cards in real time. Moreover, the offers and rewards will be relevant to consumer interests and more meaningful.
The current retail situation is not favorable to many stakeholders. This is because a plethora of daily deals sites and a spate of offers in the email have made consumers ignore most deals. This means that retailers are unable to connect with potential customers who end up deleting all the deal information. Consumers too miss out on deals of interest to them because of the excess of information. Truaxis has come up with a solution that enables merchants to analyze consumer purchases and deliver targeting offers via MasterCard. This will benefit both merchants and consumers.
The Truaxis deal will ensure benefits to consumers, merchants, and financial institutions. While consumers will have access to more meaningful deals, merchants will be able to use the analytics to increase sales, while financial institutions will be able to offer products that build brand loyalty.
“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, the chief product officer, 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 this purchase, MasterCard will be in a position to offer great value to both merchants and financial institutions. Truaxis will enable MasterCard to help retailers create and manage their offers and rewards program better, better targeting of offers benefitting both merchants and consumers, a better consumer experience with bill analysis features. Financial institutions will benefit from the flexible platform that will enable faster solution implementation.
MasterCard will continue to leverage Truaxis and its solution to ensure that it offers a great service to retailers, consumers, and financial institutions. Truaxis will be able to utilize the full potential of its products after this deal with MasterCard.
“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,” said Schwark Satyavolu, the Truaxis CEO.