MasterCard Inc. announced a free application for Apple Inc.'s iPhone that lets users track special deals offered through the payments network's online shopping portal, MasterCard MarketPlace.

The MasterCard MarketPlace Overwhelming Offers app, announced Wednesday, is the latest marketing product the company developed with the e-commerce startup Next Jump Inc.

In April, the companies unveiled MarketPlace, which lets MasterCard cardholders shop for products and uses analytics software to tailor special offers based on consumers' prior transactions. The iPhone app lets users track limited-time and -quantity, reservation-only merchant offers that are posted on MarketPlace daily.