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Payments General

Meniga acquires rewards platform Wrapp

Friday 11 January 2019 | 01:11 PM CET

Meniga, a global provider of digital banking technology, has announced its acquisition of Sweden-based rewards platform, Wrapp.

Previously, Meniga and Wrapp were independently offering transaction-driven rewards (Meniga in Iceland, Wrapp in Sweden and Finland), but will now merge their respective technology and teams into one streamlined solution under the Meniga banner, operating from Stockholm.

This transaction benefits from – and reaffirms – a commitment on the part of major Nordic banks to build the platform for customer reward programmes and loyalty solutions. Current Wrapp shareholders, including Nordea, are paid with newly-issued Meniga shares and will, through this transaction, become shareholders in Meniga alongside Swedbank, UniCredit, and I╠üslandsbanki.

Through Meniga, any merchant – whether national player or local independent – can now compete for consumer attention through a self-service interface similar to Google and Facebook Ads, which surpasses these traditional models by providing merchants with the ability to offer personalised rewards to consumers based on purchase behaviour (and only paying for those who actually make a transaction).

More: Link