News

Credit card loyalty firm acquired by BuyWithMe

BuyWithMe Inc. reported on Monday that it has acquired Edhance Inc., a Cambridge, Mass.-based company that provides credit card linked loyalty programs.

The new deal, marking BuyWithMe’s fourth acquisition since March, is intended to help merchants get more repeat business through BuyWithMe’s daily group-discount offers, BizJournals.com reports.

BuyWithMe, jointly based in Boston and New York City, is the number three daily deal site nationally behind Groupon and LivingSocial, and is the second largest in Boston.

With Edhance’s services, BuyWithMe can offer merchants deals that create customized loyalty and rewards offers for consumers, which will be linked to the consumers’ credit cards, BizJournals.com reports. The offers are meant to bring in repeat business and allow merchants to measure the return-on-investment of participating in the deals.

"Until today the industry has failed to provide merchants a means to create, manage and measure not just deal results but ongoing customer loyalty, reward and engagement programs" following the initial deal promotion," BuyWithMe CEO Jim Crowley said, BizJournals.com reports.

When BuyWithMe subscribers use their credit cards at a merchant’s store, the loyalty and rewards offers from the merchants are automatically redeemed.

Edhance started in 2009 as loyalty and rewards program for college students.

Bjorn Larsen, Edhance’s founder and former president, has joined BuyWithMe as vice president of loyalty and card-linked offers, according to BizJournals.com.

BuyWithMe is fast expanding in Boston and around the U.S. in its bid catch up to Groupon and LivingSocial, BizJournals.com reports.  The company is currently offering deals in 15 cities, and expects to reach as many as 21 by the end of the year.

Earlier this year, BuyWithMe acquired LocalTwist of San Carlos, Calif., DealADayOnline of Chicago and Group Swoop of San Francisco.

Last week, BuyWithMe also announced a partnership that will allow users of location-based application Foursquare to access BuyWithMe deals, BizJournals.com reports.

Comments are closed.