MasterCard Marketplace to revolutionize online shopping experience
12 Apr '10
3 min read
MasterCard Worldwide announced a three-year exclusive alliance in the payments space with Next Jump Inc a next-generation e-commerce company, to revolutionize the online shopping experience.
The strategic agreement 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. It will also give MasterCard access to Next Jump's extensive aggregated e-commerce network, human capital through its digital technology engineers, and an agile development process to fuel innovation and drive speed to market for relevant and desirable e-commerce solutions that meet consumer demands.
“Our new alliance with Next Jump will allow MasterCard to make game-changing advances in the online channel, which is ripe for innovation in a way that allows consumers to have a simple, seamless, secure and valuable experience wherever they are in the world and through whatever device they access the Internet,” says Josh Peirez, Group Executive of Innovative Platforms, MasterCard Worldwide. “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.”
“MasterCard is an ideal match for Next Jump and we are looking forward to partnering our unique, data-driven approach and technology with their powerful network and insights,” says Charlie Kim, Founder and CEO of Next Jump. “Next Jump has a unique model that benefits both merchants and consumers. For merchants, Next Jump enables sales as a trusted partner – we never compete with them. Our technology allows merchants to re-direct ad spend towards better pricing in return for guaranteed sales. The merchant analytics from this model are incredibly impressive, allowing merchants to step up or down their participation in the program. For consumers, the best customers are rewarded with lower prices and/or VIP access to newest, hard-to-get, sold out products. Consumers that either spend more or have greater influence in getting others to shop – are the best customers and are rewarded accordingly.”
Customized Experiences Across An Extensive Merchant Network
As part of the new alliance with Next Jump, MasterCard also announced the launch of MasterCard MarketPlace, a program that provides MasterCard eligible consumer cardholders with hundreds of merchant-funded discounts and special benefits each day from a network of thousands of merchants across the U.S.
MasterCard MarketPlace provides discount offers and/or free shipping from a network of thousands of participating merchants across a wide range of categories including apparel, jewelry, electronics and children's clothing. MasterCard eligible consumer can access the program directly, where they can preview offers, join atno cost, and set preferences for the types of merchant offers they want to receive. Cardholders can also choose to receive email notifications for offers from specific merchants as well as exclusive in-store shopping events at preferred merchants.