Mastercard snaps up SessionM to support merchant loyalty services
Mastercard has agreed to acquire customer engagement and loyalty technology company SessionM, part of the former’s drive to improve data-driven services it offers to retailers and brands.
SessionM provides customer engagement and loyalty platforms to retailers, airlines and restaurants. According to Mastercard, the acquisition will enable it to help brands around the world deliver “personalised, real-time offers and comprehensive campaign measurement based on robust, data-driven insights”.
“Consumers’ expectations about their experiences with brands are changing,” says Francis Hondal, president for 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.”
Lars Albright, co-founder and CEO of SessionM, says that his firm shares Mastercard’s “commitment to creating experiences that drive lasting loyalty”.
Terms of the agreement were not disclosed by Mastercard. The transaction is expected to close in Q4 2019.
Mastercard has been on something of a shopping spree in 2019. It announced the $3.19 billion acquisition of Nets Group’s real-time payments business back in August.
It also bought up cross-border payments firm Transfast in July, something which the firm said at the time would help to bolster its ability to offer democratised real-time cross border payments.