MasterCard Becomes Exclusive Payments Partner of FRN
Also, Fuel Rewards Network launches in Dallas-Fort Worth
PURCHASE, N.Y. & DALLAS -- MasterCard and Excentus have announced an agreement in which MasterCard will become the exclusive payments partner of the Fuel Rewards Network (FRN) program, a rewards program that helps consumers earn savings and instantly reduce the price of gasoline at the pump.
When FRN Members shop and dine with participating grocery stores, retailers, restaurants, Shell stations and nearly 700 online mall merchants, they can earn cents-per-gallon savings redeemable on their next fillup. Members will soon be able to enroll their MasterCard cards in the program and gain additional rewards when they use these cards to pay for groceries and other purchases at participating merchants.
"Our relationship with the Fuel Rewards Network extends this best-in-class loyalty platform to benefit issuers, merchants and cardholders. This program has real value in helping cardholders save at the pump, while increasing their loyalty to participating merchants and issuers," said Craig Vosburg, group executive of U.S. market development for MasterCard, Purchase, N.Y.
"There are roughly 200 million American drivers who have the potential to benefit from this program," said Dickson Perry, founder and CEO of Excentus, parent company of the Fuel Rewards Network program.
Also, the Fuel Rewards Network celebrated the program's launch in its home market, the Dallas-Fort Worth area, by awarding free fuel to the first 100 cars to arrive at a Shell station located in Richardson, Texas, on Jan. 31, the company said on Facebook.
Dallas-based Excentus is the creator of marketing programs and services that use price roll down discounts at the pump as the ultimate consumer reward. The Fuel Rewards Network program provides members with the opportunity to earn free fuel by purchasing the things they normally would from more than 1,000 retail locations, nearly 700 online merchants and more than 10,000 restaurants, and redeeming their rewards at participating fuel stations across the country. Excentus currently holds nine patents on the technology behind the cents-per-gallon model and licenses various uses of its patent portfolio to provide private-label fuel discount programs through its business unit, Centego II LLC.