Mastercard Leverage the Power of Analytics
Interesting point of view from the FT’s Emily Steel, who took a look at the sales pitch for one of Mastercard’s newest products. Surprisingly, it is not a new credit card or payments system – it is in fact a new way for Mastercard to monestise all the things it already knows about it’s customers
“MasterCard first explored the possibility of using customer data for targeted advertising last year, but delayed those plans because of legal and regulatory concerns over how financial services companies use the customer data they have collected.
According to an online sales pitch titled “Leveraging MasterCard Data Insights to Reach Holiday Shoppers”, MasterCard analyses billions of transactions – noting, for example, which consumers are more likely to purchase consumer electronics or luxury goods. “The foundation of all of our solutions is transaction data,” Susan Grossman, MasterCard’s senior vice-president of media solutions, said during the pitch, which has been viewed by the Financial Times.”
To highlight this, Mastercard produced an infographic detailing how they are leveraging the power of technology and the size of their data: