Bankrate Inc., an aggregator and publisher of rate data and news related to personal finance, has acquired Wallaby Financial Inc., a firm that provides credit card reward apps to consumers.
Wallaby's Web, iPhone, Android and wearable apps use proprietary algorithms and information about location and consumer preferences to help consumers maximize the rewards they earn with each credit card purchase. Consumers can also sign up for new cards that are closely aligned with their purchase habits through the apps. Wallaby, of Pasadena, Calif., has a CardBase database that includes 2,400 credit cards offered by more than 500 financial institutions. According to its press release, Bankrate plans on coupling Wallaby with its consumer credit card marketplace website, CreditCards.com.
Bankrate, of North Palm Beach, Fla., also runs Interest.com, Bankaholic.com, Mortgage-calc.com, CreditCardGuide.com, amongst other consumer financial information websites.