CardLinx member Meniga announced their acquisition of Stockholm-based rewards platform, Wrapp. Wrapp’s 6 bank partners and over 350 brands in Sweden and Finland join Meniga’s 65 million digital banking users across 30 countries to create a formidable competitor in online-to-offline commerce.
“Combining Wrapp’s merchant technology and network with Meniga’s advanced segmentation and experience in digital solutions will create a truly compelling offering for banks and merchants. The combined entity has a fantastic opportunity to demonstrate the true potential of transaction-driven marketing within digital banking in the Nordics and beyond”, says Peter Åkesson, Head of Partnerships & M&A in Personal Banking at Nordea.
Through Meniga, any merchant can present personalized rewards to consumers based on purchase behavior to consumers through a self-service interface similar to Google and Facebook Ads.
Success in digital commerce requires scale across multiple banks and across borders. With the two largest banks in the Nordics, Swedbank and Nordea, as shareholders – and live network partners including Danske Bank, Nordea, Islandsbanki, Länsförsäkringar, Collector, Sodexo and Aktia Bank – Meniga is poised to rapidly scale transaction-driven rewards across Europe and beyond.
Full press release below.