• Promo, Thursday, November 16, 2006 11:15 AM

MasterCard Rewards Services is developing and will manage a loyalty-marketing service for banks that will be tailored to each institution's product portfolio and consumers. The service will leverage MasterCard's consumer spending data, loyalty-marketing experience and technology to enable the company to handle point scoring, tracking and fulfillment.

Rewards can be based on deposit or investment balances; transactions, such as card purchases, online bill payments and direct deposit; the number of the bank's products that a customer uses; or one-time transactions, such as a mortgage application.

MasterCard is working with banks now to roll out programs in early 2007. Each bank will pay MasterCard a fee based on the size, complexity and service level for its program.

Read the whole story at Promo »