PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Former eBay, Oracle Execs Raise $11 Million For “Gift Network” FreeMonee

By Mercator Advisory Group
May 11, 2011
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
The merchant-funded incentive space just became more crowded with the launch of FreeMonee. The venture funded firm promises a new approach to the targeting and distribution of merchant-funded discounts through issuers of credit and debit cards:

FreeMonee will basically enable merchants to hand out cash “gifts” directly to individual credit and debit cardholders through participating financial institutions. With said gifts, consumers can purchase anything they choose at the merchant by simply using their card.

The financial institutions deliver the FreeMonee gift notifications to their customers via their normal communication channels and receive a success fee for each gift redeemed.

At the heart of the offering, FreeMonee says, lies its proprietary and patent-pending Adaptive Matching Technology (AMT), which – anonymously – analyzes the transaction data of hundreds of millions of debit and credit card holders and matches merchant gifts with consumer prospects that are likely to redeem based on previous purchasing patterns and predictive analytics. The startup says it has agreements in place with two of the top six card issuers in the United States and is working closely with others.

The merchant-funded space has gained interest among issuers seeking ways to differentiate their card offerings to their cardholders without adding significantly to their rewards program budget line. Among debit issuers, this need has become even more crucial as debit interchange revenue has become threatened under the Durbin amendment. The first live program is expected to launch this summer.

Click here to read more: http://techcrunch.com/2011/05/11/former-ebay-oracle-execs-raise-11-million-for-gift-network-freemonee/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    AI Is Turning Accounts Receivable Into a Strategic Powerhouse

    AI Is Turning Accounts Receivable Into a Strategic Powerhouse

    July 15, 2025
    Embedded Finance

    Embedded Finance: Bringing Payments Under a Single Umbrella

    July 14, 2025
    Making Real-Time Payments a Reality

    Fulfilling the Promise: Making Real-Time Payments a Reality

    July 10, 2025
    mortgage

    The Rich Benefits of In-House Payment Systems

    July 9, 2025
    digital cards

    Beyond Plastic: Why Digital Cards Are the Future

    July 8, 2025
    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    July 7, 2025
    Rewire Acquires Imagen, Looking at Prepaid Cards for Migrant Workers

    Smells Like Team Spirit: What Makes Cobranded Credit Cards Work

    July 3, 2025
    uk banking outages

    New Continuous Strategies for Battling Account Takeovers

    July 2, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result