- Mastercard announced recently that it is buying customer engagement company SessionM. These are the details about the deal.
Mastercard recently announced that it is buying SessionM — which is a U.S. based customer engagement and loyalty platform company that works with the most innovative brands such as retailers, airlines, restaurants and CPG companies in order to forge stronger and more profitable consumer relationships.
“SessionM shares Mastercard’s commitment to creating experiences that drive lasting loyalty and meaningful, impactful customer engagement,” said Lars Albright, co-founder and CEO of SessionM. “We look forward to joining the Mastercard family and to bringing our innovative technology to even more customers in more places around the globe.”
By acquiring SessionM, it will enhance Mastercard’s ability to help brands deliver personalized and real-time offers along with comprehensive campaign measurement based on robust, data-driven insights. Plus Mastercard is constantly innovating and investing to bring fresh value to brands globally thus helping them build and enhance their customer relationships and grow their business.
“Consumers’ expectations about their experiences with brands are changing,” added Francis Hondal, president of loyalty and engagement at Mastercard. “We believe that the future of loyalty needs to be re-imagined to enable seamless digital experiences, and SessionM’s consumer-centric capabilities will help us broaden our value to marketers across sectors in exciting new ways.”
Many businesses are looking for ways to reinvent their loyalty programs to better serve increasingly digital consumers. And SessionM helps brands create and manage consumer engagement and loyalty programs with technology that powers a complete loyalty solution ranging from data management to campaign execution to program measurement.
Mastercard has invested in a number of companies to advance its data-driven services for retailers and other brands over the last decade. For example, Mastercard acquired Applied Predictive Technologies — which is a test and learn analytics tool that enables brands to prove the real impact of marketing, product, and other decisions.
Plus Mastercard has also expanded its market-leading consulting program and enhanced its marketing services and executing omnichannel campaigns on behalf of customers.
“With our suite of data-driven services, we aim to help our customers end to end – from advice to execution and everything in between,” explained Kevin Stanton, chief services officer at Mastercard. “Our complementary technology and teams will help brands drive greater loyalty with both proprietary and card-based programs—reinforcing Mastercard as their partner of choice.”
The terms of the deal were undisclosed. And this transaction is expected to close in the fourth quarter.
