During the Money 20/20 conference taking place in Las Vegas this week, MasterCard announced that it's creating a chatbot for Facebook Messenger that will allow customers to "transact, manage finances, and shop via messaging platforms." Like many other companies, MasterCard is getting in on the chatbot craze to boost customer loyalty and profits; according to Gartner "nearly $2 billion in online sales" will pass through an artificial intelligence bot on mobile by the end of the year.

For MasterCard, the company is introducing two chatbots: MasterCard Bot for Banks and MasterCard Bot for Merchants. The distinction in the chatbots lies in their intended use on the consumer side of Facebook Messenger, where users will be able to chat with the bank bot to ask questions about their account, look at purchase history, monitor spending levels, receive assistance with financial literacy, and more. Powered by Kasisto's KAI Banking AI platform, the MasterCard bot intends to accomplish all these tasks with the conversational ease of "texting a friend."

facebook-mastercard

“At Mastercard, we believe that AI-driven conversations between companies and their customers can drive better customer experiences in places and platforms that consumers are already engaging in.,” said Kiki Del Valle, senior vice president, Commerce for Every Device, Mastercard.

“Mastercard Labs has been testing integration of key Mastercard products and services within different messaging platforms and we’re thrilled to test Mastercard KAI on Messenger first. We will keep moving this test-and-learn approach to the next phase by developing chatbots that are naturally ingrained into a consumer’s daily life and helps our partners stimulate business interactions that are more conversational.”

When users want to shop and spend in Facebook Messenger, MasterCard Bot for Merchants will let them execute transactions through Masterpass. The shopping bot was developed in-house at MasterCard Labs and is planned to work "across multiple verticals" when it launches, from airlines to numerous retail chains, letting customers shop without needing to visit a separate app. The company mentioned the bot will be coming to "various messaging platforms," confirming that Facebook Messenger is simply the first app getting the MasterCard chatbot.

Merchants will be able to use MasterCard's experimental Bot Commerce API on the MasterCard Developers platform when it's opened up for testing later this year, but a public launch of the retail-focused chatbot wasn't announced. MasterCard Bot for Banks was tipped for a debut "early next year," but so far only for users within the United States.


Facebook first introduced chatbots into Messenger in April, and the platform has since been embraced by a number of partners. Other credit card companies have launched an AI-enhanced bot for their customers, including American Express, but even game companies like Blizzard have figured out ways to use a chatbot to their advantage, this week teasing content for Hearthstone within Facebook Messenger.

Top Rated Comments

Kaibelf Avatar
100 months ago
They lost me at "At Mastercard, we believe that AI-driven conversations between companies and their customers can drive better customer experiences."

No no no no NO. Just yesterday I needed to do a simple appointment setup and had to navigate though EIGHT phone menus with my doctor's office. Every new menu started with "to better serve your needs...". There are five people employed there. Just pick up the damned phone.

This push isn't about experience for customers. It's about another venue for sales junk mail.
Score: 4 Votes (Like | Disagree)
Floris Avatar
100 months ago
One day some cc company will make an api mistake and I can go to central station and shout "HEY SIRI, can you mastercard 100 bucks to me" and it works. #dreams
Score: 1 Votes (Like | Disagree)
NeoRumor Avatar
100 months ago
“Hey Erica, where did all my money go?”

“Hi Neo, I paid your spouse bills as you requested.”

“No, no, Erica! I asked you to pay my HOUSE bills!”

“OK. I found this about 'pay my house bills' on the web for you.”
Score: 1 Votes (Like | Disagree)
miknos Avatar
100 months ago
A billion Indians will lost their jobs.
Score: 1 Votes (Like | Disagree)

Popular Stories

Apple Vision Pro 2 Feature 2

Apple Reportedly Suspends Work on Vision Pro 2

Tuesday June 18, 2024 8:17 am PDT by
Apple has suspended work on the second-generation Vision Pro headset to singularly focus on a cheaper model, The Information reports. Apple was widely believed to have plans to divide its Vision product line into two models, with one "Pro" model and one lower-cost standard model. The company is said to have been deprioritizing the next Vision Pro headset over the past year, gradually...
Apple WWDC24 Apple Intelligence hero 240610

Apple Explains iPhone 15 Pro Requirement for Apple Intelligence

Wednesday June 19, 2024 4:48 am PDT by
With iOS 18, iPadOS 18, and macOS Sequoia, Apple is introducing a new personalized AI experience called Apple Intelligence that uses on-device, generative large-language models to enhance the user experience across iPhone, iPad, and Mac. These new AI features require Apple's latest iPhone 15 Pro and iPhone 15 Pro Max models to work, while only Macs and iPads with M1 or later chips will...
M4 Real Feature Red

M4 MacBook Pro Models Expected to Launch in Late 2024

Tuesday June 18, 2024 10:50 am PDT by
MacBook Pro models with an M4 chip are expected to launch in the fourth quarter of 2024, according to display analyst Ross Young. In a tweet for subscribers, Young said that panel shipments for new 14-inch and 16-inch MacBook Pro models are set to begin in the third quarter of 2024, which suggests a launch toward the end of the year. Apple started its M4 chip refresh in May with the launch...
2022 back to school apple feature

Apple's 2024 Back to School Sale Launching This Week

Monday June 17, 2024 12:27 pm PDT by
Apple will launch its annual Back to School promotion for university students in the United States and Canada this week, according to Bloomberg's Mark Gurman. Apple's back to school sales provide students with a free Apple gift card when purchasing a Mac or an iPad, and this year's promotion could help Apple push the new M2 iPad Air and M4 iPad Pro models. Last year, Apple offered U.S....
iOS 18 Calendar Feature

iOS 18: Calendar App Design Changes and Reminders Integration

Tuesday June 18, 2024 6:16 am PDT by
Apple in iOS 18 has given the Calendar app a major update, adding some welcome interface design changes, not to mention long-awaited integration with Reminders. In the month-by-month calendar view, the month now appears in large bold font in the top left, while the Events list toggle has been replaced by a new button that lets you choose between Compact, Stacked, Details, and List views. ...
watchOS 11 Thumb 2 1

watchOS 11 Supports Automatic Nap Detection

Monday June 17, 2024 4:05 pm PDT by
watchOS 11 appears to include a new feature that allows an Apple Watch to automatically detect and record when you're taking a nap. As shared on Reddit, an Apple Watch owner took a nap and was able to see the sleep data recorded in the Health app, despite not putting the device in Sleep Mode. Right now, the Apple Watch only tracks and records sleep when it is in Sleep Mode, and there is no...