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MasterCard Brings Rewards Platform Into the Network
September 7, 2012
Flying somewhat under the radar compared with more well-known platforms from Cardlytics and Cartera, Truaxis took a slightly different approach to building a rewards platform by putting the analytics out front and independent of any specific transaction type. The Truaxis engined called Purchase Insights operates like a Netflix-type service by learning consumers' likes and dislikes using cluster-based behavior models. The product can bundle offers and allow consumers the ability to do things such as vote on a recommended offer.
From a press release:
The integration of the Truaxis platform with the MasterCard network will allow for real-time offer delivery coupled with advanced analytics to ensure consumers get more meaningful offers, merchants gain efficiencies in driving sales and financial institutions build greater loyalty with customers.
As the market moves into a mobile environment, the incentive aspect of consumer adoption will be critical and owning the IP that drives the analytical models at the heart of these new payment flows gives MasterCard wider visibility into new payment drives and additional revenue streams.
to read the press release.
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