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Myze Puts Mobile Aside to Focus on Online Shopping

Philip RyanbyPhilip Ryan
February 11, 2014
in Banking, Payments
Reading Time: 1 min read
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Myze is backing off mobile.

The San Francisco-based card rewards startup is switching its focus from its mobile app to a browser plug-in for online shopping, CEO Yuval Yifrach informed Bank Innovation yesterday.

When Bank Innovation last reported on Myze, the startup, now one year old, was exploring location-based offers. That focus has now shifted to rewards that appear as users shop in a browser-based experience.

The company’s ambition is to build the world’s largest credit-card rewards database. Users enter their credit cards — that is, the type of cards, not the card number itself — into Myze’s system, and Myze then suggests which card is the best to use when customers shop online.

Myze has two revenue streams: referral fees from card issuers and sponsored links and paid positioning within reward results. Yifrach wrote yesterday:

With regards to the location-based offers, we decided to focus on the online  shopping world, given that there are so many more offers and we can provide a hassle-free user experience. I think that our current product is a perfect fit with the way people shop online.

Mobile is still on Myze’s roadmap, however. “Currently [Myze’s offering] is mainly e-com, but we see m-com as a fast-growing market — and we see great importance in providing the same maximized and hassle-free experience for m-com shoppers,” Yifrach wrote.

Myze has offers at 3,000 online merchants, covering more than 50,000 online rewards, Yifrach said, adding, “Obviously, this is just a first step and we have many great features coming up in the very near future.”

Learn more about what’s next in banking at Bank Innovation 2014 on March 3-4 in Seattle.

Tags: e-commercem-commercemobile commerceMyzeonline commercestartups
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