PURCHASE, N.Y., Jan. 5 /PRNewswire-FirstCall/ -- MasterCard Worldwide (NYSE: MA) today announced that it has partnered with Ohana Companies, a pioneering leader in integrated retailer rebate processing, to enhance the rebate fulfillment and redemption process for Ohana's merchant partners and their customers. Customers who file for product rebate offers may now receive funds on a MasterCard® prepaid card, allowing quicker, simpler and more flexible rebate redemption compared to old-fashioned paper-based checks.
"We value our relationship with MasterCard, which further enhances our vision of revolutionizing the rebate business with improved technology and processes that deliver added value to consumers, manufacturers and retailers," said Chris Quinlan, founder and chief executive officer of Ohana Companies.
MasterCard prepaid rebate cards will be issued to retail customers as part of Ohana's patented RoCS® (Return of Customer Spend) platform, a revolutionary paperless rebate process that ties directly into merchants' point of sale systems and provides valuable redemption offers to customers when they file their rebate offers. Ohana currently has key relationships with several top retailers, in industries such as consumer goods, confectionary, pet and other food products, and baby products, among others, for which the company designs and implements rebate programs that are valuable for both retailers and their customers.
"As consumer preference for payment cards continues to grow compared to cash and check, we are pleased to partner with Ohana to deliver its enhanced rebate program that meets consumer demand for easier and more flexible payment options," said Neil Dugan, vice president, Prepaid Americas, MasterCard Worldwide. "We also recognize the tremendous opportunity within Ohana's business model to drive customer loyalty and greater spend for merchants, and are pleased to align our brand with this innovative company."
By receiving rebates on MasterCard prepaid cards, consumers benefit from being able to spend their rebate immediately, rather than making a trip to the bank to deposit a check, and can use their card to make purchases at store locations, over the phone or online. In addition, MasterCard prepaid cards offer added security over cash and checks. Customers also can track rebate spend and balance, and take advantage of value-add offers, customized by merchants, based on the products they have purchased.
Through the Ohana program, merchants can receive insights into the products purchased by customers, how much of the rebate was redeemed, and remaining card balance, enabling them to customize targeted offers and incentives to spend the rebates on additional, related products from the same manufacturer or retailer. MasterCard prepaid cards also provide merchants with another communications channel to reach consumers, even after they have redeemed a portion of their rebate, with targeting marketing and promotions.
Ohana Companies has virtually eliminated the inefficient and costly mail-in rebate and fulfillment process by offering the first 100-percent online solution to redeem, validate and fulfill rebates electronically. The company's team of innovative executives, with considerable retail, marketing, financial services and technology industry expertise, have come together to transform the broken rebate model that's been frustrating consumers, retailers and manufacturers for decades. Ohana utilizes revolutionary, patented and patent-pending technology and processes, changing the way consumers, retailers and manufacturers participate in rebates and promotional marketing, ensuring that "Everybody Wins." For more information, go to www.everybodywins.com.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.
SOURCE MasterCard Worldwide