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.Like This Post