MasterCard has acquired US loyalty solutions
provider Truaxis to integrate its rewards programs and analytics
technology into the payments network.
Truaxis was launched in 2007 as Billshrink.
The company initially focused on providing deal comparing and money
saving services through its online platforms
Billshrink.com and StatementRewards.
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Billshrink renamed to Truaxis in September
2011, following an expansion of its services into the provision of
personalised customers’ rewards and analytics technology for
financial institutions and merchants. It also specialises in the
increasingly popular Merchant Funded Rewards.
MasterCard product officer Tim Murphy said :
“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”.
In 2008, Truaxis raised USD8 million in
funding from Trinity Ventures and Bessemer Venture Partners,
two US funds specialised in investing in early-stage IT
companies.
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