On Friday, MasterCard Inc. (MA) announced a three-year partnership with Next Jump Inc. a next-generation e-commerce company, in an attempt to enhance its payment solution services and deliver to the next-generation online shopping practice. According to the deal, MasterCard and Next Jump have strategically united for a three-year alliance whereby both the parties will mutually share the collective assets in the payments technology, e-commerce and digital marketing areas.
Since online shopping has become a popular and rapidly spreading practice among consumers due to ease of use along with flexibility and security of high speed transactions, the demand for online shopping and easy card payment options have increased by a huge extent.
Concurrently, MasterCard and Next Jump also launched the MasterCard MarketPlace, an innovative program that provides multiple facilities to the existing MasterCard consumer cardholders such as merchant discount offers, free or discounted shipping and other special benefits from a network of thousands of merchants across the U.S.
The alliance between MasterCard and Next Jump and the concomitant launch of MasterCard MarketPlace is an attempt to improvise the shopping experience of its customers by providing a user-friendly, secure and better-priced e-commerce solution. Through this new technological innovation, consumers can now achieve desirable, latest, hard-to-get or sold out products at decent pricing at their doorstep.
Also, the merchant analytics from the Next Jump’s e-commerce model permits merchants to re-direct their advertisement expenditure towards better pricing in return for guaranteed sales. This strategy is helpful for both the merchants and consumers involved in e-commerce, thereby creating ample growth opportunities for MasterCard and Next Jump, the providers of this innovative technology.
Hence, the alliance is strategically beneficial to both the organizations and will be helpful in providing improved efficiencies, customized shopping experience at modest prices. MasterCard continues to grow through a healthy product boutique and huge network.