Mobile Commerce

edo Interactive Links With SaveAround On Card-Linked Savings Platform

edo Interactive, an advertising technology provider, and SaveAround, a merchant offers provider, announced today (Oct. 26) at Money20/20 a new partnership to integrate SaveAround’s deals platforms to more than 40 million cardholders in edo’s Prewards network.

What edo brings to the mix is its patented card-linking technology, which is used by financial institutions around the world to deliver redeemable discounts to cardholders instantly. This technology also uses data-driven insights tailored to consumer spending habits.

“By partnering with SaveAround, we can offer rich discounts from local and regional organizations across the U.S. to cardholders in our Prewards network. Our geotargeting capabilities and ability to pinpoint new, loyal and lapsed customers are advantages for small and medium-sized businesses,” said Souheil Badran, CEO of edo Interactive.

edo said it will work with SaveAround to expand their print, Web, mobile, and card-linked offers to edo’s partner financial institutions in order to provide assistance with tailoring offers to their millions of customers. The cardholders are automatically enrolled in edo’s Prewards program through their bank’s credit or debit cards and can access offers via desktop, tablet or smartphone.

SaveAround’s merchant platform distributes offers via print, Web, and mobile form — and also provides millions of consumers with access to quality savings from the company’s network of thousands of local, regional, and national merchants across North America.

“Working with edo will allow us to continue to digitize our offers, while making them even more relevant for local businesses across the U.S.,” said Luke Stanton, CEO and President of SaveAround. “Customers love our programs for saving money while giving back millions of dollars to local communities. By linking our offers to their credit and debit cards, we’re making it even easier to do both.”

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The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.