MasterCard’s customer rewards program just got a major upgrade. As part of a deep, three-year partnership with NYC-startup Next Jump, the credit card organization just launched MasterCard Marketplace. Any cardholder can go to the site and sign up for discounts on electronics, computers, clothing, jewelry, and other products from thousands of merchants and manufacturers. Next Jump will operate the program on behalf of MasterCard, and help it advance its overall e-commerce strategy in other ways as well.
While it is not a very high-profile company, Next Jump already powers the employee discount and rewards programs for 90,000 companies, including 60 percent of the Fortune 500. Next Jump also powers Overwhelming Offers and Yahoo’s Daily Deals. It’s raised $45 million, and early Google investor Ram Shriram sits on its board. (Read my earlier profile for more details).
Next Jump takes an algorithmic approach to reward both good shoppers and good deals. In the MasterCard Marketplace, consumers can rate offers, set alerts, and get ranked based on how much they shop. Each offer, in turn, is also ranked base don its conversion rates. Next Jump has put together a network of 28,000 merchants. They are encouraged to offer products at a discount in return for gaining access to highly-motivated shoppers.
In this day and age, everyone wants a special deal. (Note the rise of group discount and flash sale sites). Now everyone with a MasterCard can feel a little extra special.
Headquartered in New York City, Next Jump is building the next generation of e-commerce and advertising technology, and revolutionizing the way consumers and marketers interact online. The company has created the most powerful technology engine for sales achieving the highest conversion rates of browsers to buyers. Over 28,000 merchant partners, both retailers and manufacturers, leverage Next Jump’s technology, to create the most targeted, cost-effective and measurable campaigns to reach more than 100 million users. Next Jump acquires its users...
As a critical link among financial institutions and millions of businesses, cardholders and merchants worldwide, MasterCard provides services in more than 210 countries and territories. MasterCard advances commerce worldwide by developing more secure, convenient and rewarding payment solutions, processing billions of payments seamlessly across the globe, and building economic connections that accelerate business.