Wix Buys Rise.ai To Boost eCommerce Offering

Global Software-as-a-Service (SaaS) platform Wix, which works to help people build websites, has announced the acquisition of Rise.ai, a gift card and customer re-engagement solution for online brands, according to a press release emailed to PYMNTS.

“We are excited to expand our offering and services as part of the Wix eCommerce strategy,” said Wix Head of eCommerce Arik Perez in the release. “By providing merchants with more native tools, we can help them grow long-term customer value and revenues to build their businesses and keep optimizing and increasing profitability. Rise.ai is considered to be the best solution of its kind in the market, and the integration will enable merchants to easily manage and maintain customer engagement tools, ultimately leading to increased loyalty and revenue.”

According to the release, Wix looks to extend its eCommerce platform to provide a full solution for merchants to manage customer re-engagement activities, which should boost customer spending and repurchases, including gift cards, loyalty programs, rewards and referrals.

“Customer retention has become the top priority for eCommerce brands worldwide, as acquisition costs continue to spike,” said Rise.ai Founder and CEO Yair Miron in the release. “Since our founding, we have powered tens of thousands of leading brands with loyalty and re-engagement solutions to grow their businesses. We are now thrilled to join Wix and bring Rise.ai to hundreds of thousands of online stores around the globe and help them rise.”

Wix’s platform powers online stores, service providers, restaurants, events and more. With Wix, the companies are able to “sell through multiple sales channels, including web and mobile storefronts, social media, online marketplaces and physical retail locations, as well as manage and track inventory, orders and fulfillment to payment and brand marketing,” the release stated.

In related news, Wix also uses artificial intelligence (AI) and machine learning (ML) to fight money laundering, PYMNTS reported.