PURCHASE, N.Y. & DALLAS--(BUSINESS WIRE)--MasterCard and Excentus today announced an agreement in which MasterCard will become the exclusive payments partner of the Fuel Rewards Network™ (FRN) program, a rewards program that helps consumers earn valuable savings and instantly reduce the price of gasoline at the pump.
When FRN™ Members shop and dine with participating grocery stores, retailers, restaurants, Shell stations and nearly 700 online mall merchants, they can earn cents per gallon savings redeemable on their next fill-up. To date, Members have earned a national average of $.32 per gallon in savings. Members will soon be able to enroll their MasterCard cards in the program and gain additional rewards when they use these cards to pay for groceries and other purchases at participating merchants.
“We have a long history of providing our cardholders with unique experiences and added value beyond just transactions,” said Craig Vosburg, group executive of U.S. Market Development for MasterCard. “Our relationship with the Fuel Rewards Network extends this best-in-class loyalty platform to benefit issuers, merchants and cardholders. This program has real value in helping cardholders save at the pump, while increasing their loyalty to participating merchants and issuers.”
“Every day, Fuel Rewards Network Members are taking advantage of their shopping and dining activities to turn shopping power into savings power on every gallon of fuel they pump at participating Shell stations,” said Dickson Perry, founder and CEO of Excentus, parent company of the Fuel Rewards Network program. “There are roughly 200 million American drivers who have the potential to benefit from this program. We are thrilled to work with MasterCard to provide this unique benefit to both our current and prospective Members.”
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.
About Fuel Rewards Network
By shopping with participating Shell stations, grocery stores, retailers, restaurants, online merchants and more, Fuel Rewards Network™ (FRN) Members have the opportunity to earn Fuel Rewards® savings on almost everything they buy through the Fuel Rewards Network program. Fuel Rewards savings earned from all FRN™ programs are combined in Members' FRN Accounts allowing Members to save big at the pump. Fuel Rewards savings are redeemable at participating Shell stations. For more information, visit www.fuelrewards.com.
Excentus Corporation is the creator of and patent-holder for marketing programs and services that utilize price roll down discounts at the pump as the ultimate consumer reward. Excentus has spent more than fifteen years developing and perfecting the Fuel Rewards Network™ program’s technology and program features to make it easy for consumers to save money on fuel and convenient for businesses to build loyalty and create value for customers. The growing Fuel Rewards Network™ program provides Members with the opportunity to earn free fuel simply by purchasing the things they normally would from more than 1,000 retail locations, nearly 700 online merchants, and 10,000+ restaurants, and redeeming their rewards at participating fuel stations across the country. To date, Excentus has helped more than 10 million consumers save hundreds of millions of dollars on fuel. Excentus currently holds nine patents on the technology behind the cents per gallon model and licenses various uses of its patent portfolio to provide private-label fuel discount programs through its business unit, Centego II, LLC. Headquartered in Dallas, Texas, Excentus was founded in 1996 and is a privately held company with more than 150 employees. For more information please visit www.excentus.com.