Financial services giant MasterCard has partnered with e-commerce company NextJump to create the MasterCard Marketplace, an e-commerce site featuring discounts for MasterCard members.
“NextJump has been in the business of running employee discount programs, but we’re bringing something similar to all MasterCard holders,” said Josh Peirez, group executive of innovative platforms for MasterCard Worldwide.
NextJump analyzes consumer behavior to display offers consumers are most likely to buy on the site’s front page, Peirez added. Each offer is available for a limited time.
“If you see you’ve missed something you’re interested in, the system lets you set a reminder for the next time a similar offer is available,” he said. “Merchants can then use that information to manage their portfolio of offers.”
The site will also offer “VIP Events” and “Outstanding Offers” programs. Cardholders can enter to win private shopping sessions on the events platform, with a discount, at participating stores. Outstanding Offers are limited specials, posted each day at noon.
MasterCard will promote the site with television, radio, online banner and print ads beginning April 12, as well as through its social media presence on Facebook.
“There will be opportunities for people to become fans of the campaign and have personalized versions of the campaign,” Peirez said.
The company is operating the platform separately from its existing rewards programs, he added.
“Although this is very rewarding, we don’t look at it as much as a rewards program as we do a shopping experience,” Peirez explained. “We see it as a way to play in a new space for us, connecting buyers and sellers on a fun, interactive page.”
According to MasterCard Advisors’ SpendingPulse report, released earlier this week, e-commerce was up 18.4% in March year-over-year. It was the category’s eighth consecutive month of double-digit growth, according to the report.
