Mastercard has entered into an alliance with Goals101.ai, the leading bank-tech and Artificial Intelligence(AI) company. Through this alliance, Goals101.ai connects merchants and issuers using big data, AI and automation to create targeted and personalized offers for Bank cardholders. This helps banks to improve their communications performance and makes the banking experience more personalized, real-time and relevant for their customers.
- Through this partnership, Mastercard and Goals101.ai will launch a section within the platform called ‘For You’ which will unify all the bank channels and properties into one.
Points to be Noted:
i.The plug and play platform does not require in-depth integration and quickly automates, contextualizes and communicates the offer of the bank to the bank cardholders.
ii.After the bank signs an agreement to onboard the platform and provides its historical data on the platform of Goals101.ai, it can create and run advertisement campaigns.
iii.The bank will not share the personal information about any cardholder during the process.
Few Benefits for MasterCard’s Customer Banks:
i.It will have positive impact on Key Performance Indicators (KPI’s) like spend, transaction, frequency, engagement and latency
ii.The products and offers will be marketed quickly.
About the Section ‘For You’
i.This solution will bring together all partnerships, product recommendations in one location and a cardholder can see one unified communication page that is customized as per their spend behavior.
ii.It will also have a built-in capability to track all relevant KPIs.
i.Recently Axis Bank Ltd, Mastercard India & Worldline India have partnered to launch a digital point-of-sale(POS) solution ‘Soft POS’, the 1st financial payments service in India to transform everyday smartphones into merchant POS terminals.
ii.The initiatives of MasterCard is an extension of its commitment to financial inclusion with a pledge to bring one billion people and 50 million micro and small businesses into the digital economy by 2025.
Note– Goals101 already works with more than 10 banks globally and is compliant with the highest security standards like PCIDSS 3.2.1, ISO 27001:2013, ISO 27002 and SOC 2 Type 2.
Recent Related News:
i.Paytm Payments Bank Ltd (PPBL) has collaborated with Mastercard to issue virtual and physical debit cards to enable its customers to perform secure online transactions, make payments in stores as well as withdraw cash from ATMs.
ii.Airtel Payments Bank has joined hands with Mastercard to develop a special type of payment solutions such as contact less payments via NFC (Near Field Communication), credit facility and other neighbourhood banking services for Indian farmers and small and medium enterprises (SMEs).
Headquarters– New York, United States
Chief Executive Officer– Ajay Banga(Michael Miebach will succeed him by Jan1, 2021)
Headquarters- New Delhi, India
Chairman & MD- Visham Sikand