PURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard (NYSE:MA) today announced the acquisition of Truaxis, Inc., a Silicon Valley, California-based provider of relevant credit and debit card-linked offers to consumers through merchants and financial institutions. 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.
“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, 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.”
This acquisition is a key component of the MasterCard strategy to deliver enhanced shopping experiences and added value to stakeholders through unique product innovations and partnerships with leaders in the offers and loyalty space.
Truaxis delivers highly personalized and relevant offers
- A sophisticated offers creation and campaign management platform that supports multiple offer types – enabling merchants to target offers to pre-selected consumer profiles.
- Advanced personalization capabilities to ensure consumers receive highly relevant offers.
- Flexible platform architecture, enabling simpler and faster implementations for financial institutions.
- Innovative consumer engagement features, including social expense benchmarking and recurring bill analysis to create a richer consumer experience.
“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.”
MasterCard will continue to leverage its assets, existing and new partnerships, and future innovations to further improve the Truaxis proposition in the coming months, ensuring the delivery of a card-based offers and redemption model that allows financial institutions to provide merchants with an easy and scalable way to deliver highly relevant offers to consumers.
Statements in this press release which are not historical facts, including statements about MasterCard’s plans, strategies, beliefs and expectations, are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date they are made. Accordingly, except for the company’s ongoing obligations under the U.S. federal securities laws, the company does not intend to update or otherwise revise the forward-looking information to reflect actual results of operations, changes in financial condition, changes in estimates, expectations or assumptions, changes in general economic or industry conditions or other circumstances arising and/or existing since the preparation of this press release or to reflect the occurrence of any unanticipated events. Such forward-looking statements include, without limitation, statements related to the Company’s ability to:
- increase its capabilities to offer merchants and financial institutions a solution that helps them better connect with consumers while evolving the model from traditional loyalty programs through the acquisition of Truaxis, Inc.;
- deliver enhanced shopping experiences and added value through unique product innovations and partnerships with leaders in the offers and loyalty space;
- scale the Truaxis technology platforms and continue to grow its issuer distribution pipeline globally; and,
- continue to leverage its assets, existing and new partnerships, and future innovations to further improve the Truaxis proposition.
Actual results may differ materially from such forward-looking statements for a number of reasons, including those set forth in the company’s filings with the Securities and Exchange Commission (SEC), including the company’s Annual Report on Form 10-K for the year ended December 31, 2011, the company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that have been filed with the SEC during 2012, as well as reasons including difficulties, delays or the inability of the company to achieve its strategic initiatives set forth above. Factors other than those listed above could also cause the company’s results to differ materially from expected results.
MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates 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.