MasterCard Worldwide has formed a three-year exclusive alliance in the payments space with eCommerce firm Next Jump, which will allow the companies to work together to harness their combined assets in the payments technology, e-commerce and digital marketing space to drive innovation for the industry and improve the consumer experience.
The agreement will also give MasterCard access to Next Jump’s aggregated eCommerce network, human capital through its digital technology engineers, and a development process to fuel innovation and drive speed to market for eCommerce offerings.
As part of the new alliance with Next Jump, MasterCard also launched a new program MarketPlace that provides MasterCard eligible consumer cardholders with merchant-funded discounts and special benefits from a network of merchants across the US.
Accroding to MasterCard, the MarketPlace provides discount offers and/or free shipping from a network of merchants across a range of categories including apparel, jewelry, electronics and children’s clothing. The program allows consumers to preview offers, join at no cost, and set preferences for the types of merchant offers they want to receive.
The platform offers consumers the ability to personalise their online shopping experience by setting preferences and email notifications from specific merchants that they like and access to in-store events at preferred merchants, MasterCard said.
Josh Peirez, group executive of innovative platforms at MasterCard Worldwide, said: “The deal is a result of our approach to innovation that is based on deep analysis of the landscape looking at areas of opportunity and identifying leading technologies to help us best meet our customers’ evolving needs.”
