MasterCard Announces Facebook Messenger Bot for Purchases and Account Management

by

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

(View all)
Avatar
49 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)
Avatar
49 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)
Avatar
49 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)
Avatar
49 months ago
A billion Indians will lost their jobs.
Score: 1 Votes (Like | Disagree)

Top Stories

Apple Warns Against Closing MacBooks With a Cover Over the Camera

Friday July 10, 2020 11:12 am PDT by
Apple this month published a support document that warns customers against closing their Mac notebooks with a cover over the camera as it can lead to display damage. Image via Reddit Apple says that the clearance between the display and the keyboard is designed to very tight tolerances, which can be problematic. Covering the camera can also cause issues with automatic brightness and True Tone....

iPhone Users Who Experienced 'Batterygate' Can Now File to Receive Around $25 Settlement From Apple

Monday July 13, 2020 6:50 am PDT by
Earlier this year, Apple agreed to settle a U.S. class action lawsuit that accused the company of "secretly throttling" older iPhone models. Now, eligible iPhone owners are beginning to be notified about their legal rights and options. Under the proposed settlement, Apple will provide a cash payment of approximately $25 to each eligible iPhone owner who submits a claim, with its total payout ...

Apple Moving Forward on Semitransparent Lenses for Upcoming AR Headset

Friday July 10, 2020 7:24 am PDT by
Apple and Foxconn have reached a key milestone in the development of Apple's long-rumored augmented reality headset, with the semitransparent lenses for the device moving from prototype to trial production, reports The Information. Apple is developing the lenses on a single production line at a Foxconn factory in Chengdu in southwestern China, where most of Apple’s iPad production is...

Arm-Intel-PowerPC Universal Binaries Are Possible

Saturday July 11, 2020 1:42 pm PDT by
Casual MacRumors visitors may not realize that we have a very active PowerPC forum where users discuss issues related to PowerPC Macs that have not been produced since 2006. Threads range from hardware upgrades and software options to nostalgia: Photo by AphoticD Apple's recently announced transition to Apple Silicon (Arm) based Macs raised some interesting questions about future support...

Possible 'iPhone 12' Battery Certifications Suggest Lower Capacities Than iPhone 11 Series

Monday July 13, 2020 4:22 am PDT by
MySmartPrice has spotted certifications for three new Apple batteries that it believes could be for the upcoming iPhone 12 lineup, despite them being less capacitive than the batteries in the current iPhone 11 series. The batteries are identified with the model numbers A2471, A2431, and A2466, and appear on Safety Korea, China's 3C, and the Danish agency UL Demko. Apple is expected to...

Leaker: 'iPhone 12 Pro' to Come With 6GB of RAM

Friday July 10, 2020 1:59 am PDT by
Later this year, Apple is expected to release four OLED iPhones in three display sizes, including 5.4, 6.7, and two 6.1-inch models. Rumors suggest the 6.7-inch iPhone and one 6.1-inch model will be higher-end devices, and now leaker @L0vetodream has corroborated previous rumors about the internal specs of Apple's upcoming lineup. Rumors suggest Apple will use 5-nanometer A14 chips in its...

Kuo: Apple Silicon Macs to Include 13-inch MacBook Pro and MacBook Air This Year, 14.1-inch and 16-inch MacBook Pro Models Next Year

Friday July 10, 2020 2:58 am PDT by
At last month's WWDC, Apple officially announced that its Mac computers will be transitioned from Intel x86 to homegrown Apple Silicon chips. Apple said it plans to deliver the first Apple Silicon Mac by the end of the year and complete the transition in about two years. According to Apple analyst Ming-Chi Kuo, a 13.3-inch MacBook Pro with a form factor similar to the current 13.3-inch...

Google to 'Dramatically' Improve Chrome Impact on Mac Battery Life

Sunday July 12, 2020 1:56 pm PDT by
Google will address long-standing battery life issues, particularly on Mac devices, reports The Wall Street Journal. Chrome will improve "tab throttling" by better prioritizing active tabs and limiting resource drain from tabs open in the background. This is said to have a "dramatic impact on battery and performance." Google has reportedly been performing early tests on Mac laptops in...

Top Stories: iOS 14 Public Beta, iPhone 12 Size Comparison, 14-Inch MacBook Pro Rumors

Saturday July 11, 2020 6:00 am PDT by
After one round of developer beta testing, Apple unleashed iOS and iPadOS 14 to a wider audience this week, opening it up to members of the public beta program. There are lots of changes and new features to check out, but as with any beta, be careful about installing it on your main devices. Subscribe to the MacRumors YouTube channel for more videos. Other major stories this week included our ...

Apple Shares Humorous 'Working-From-Home Thing' Video

Monday July 13, 2020 9:31 am PDT by
Apple today shared a funny video focused on the problems that people working from home have to deal with, including noisy children, chaotic schedules, communication issues, and more. The video focuses on showing off Apple products and their capabilities that can be useful when working from home, such as the ability to scan a document with an iPhone, mark up a PDF, Siri Reminders, and more.The...