MasterCard's latest solution offers European payment card issuers the ability to streamline their activities by integrating their global rewards offerings into one system.
MasterCard Advisors, the global professional services arm of MasterCard International, has launched MasterCard Rewards Services (MRS), a fully integrated end-to-end rewards solution for the European region. MRS is designed to enable payment card issuers to integrate their global rewards offerings into one system, thereby streamlining operations and reducing administrative costs and complexity.
Built on a platform that supports multiple languages and translation, currency conversion, and country-specific reporting requirements, MRS is customizable and will support the expanded reward offerings of the issuer by country or region, according to the specific business priorities.
GE Consumer Finance's Corporate Payment Services unit will be the first issuer to offer a MasterCard-branded rewards programme in Europe, with MRS's services including call centre support, merchandise, gift voucher, and travel fulfilment.
Corporate Payment Services' first rewards programme based on MRS was the Gains Travel Card Rewards programme, in which enrolled business cardholders receive points when they use their corporate card for eligible purchases. The programme launched in the United Kingdom and Ireland in October 2004.
Features offered include:
- Account migration capabilities that can be utilised for customer segmentation and promotional strategies;
- Extensive global data scrubbing and aggregation conducted to assist in providing flexible and accurate promotion opportunities;
- Ability to easily configure the system to add programmes/strategies or support spend-based promotions, bonus points or test cells;
- Householding of multiple accounts;
- Currency conversion;
- Country specific reporting capabilities;
- Multiple language and country call centre and fulfilment capabilities including statement and redemption websites;
- Global expertise in loyalty and rewards consulting and programme planning and development.
MRS supports the design of promotion criteria and reward redemption categories, including airline, travel, merchandise, gift vouchers (certificates), prepaid cards, and issuer-offered financial products and services. A statement option allows cardholders to view balances and redeem rewards 24 hours a day, including via the internet.