Myze Puts Mobile Aside to Focus on Online Shopping

  • Philip Ryan
  • February 11, 2014
  • 1
myze2

Myze’s browser plug-in

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. Request an invitation here.

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Philip Ryan is Senior Editor of Bank Innovation and Senior Director of INV Fintech. He began covering financial services in 2012 and has more than 15 years' experience in online journalism, which makes him quite old. He can be reached at pryan@royalmedia.com.

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