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
73 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
73 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
73 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
73 months ago
A billion Indians will lost their jobs.
Score: 1 Votes (Like | Disagree)

Popular Stories

iPhone 14 Pro Purple Front and Back MacRumors Exclusive

iPhone 14 Pro Renders Highlight Multiple Design Changes

Wednesday May 25, 2022 8:56 am PDT by
Leaker Jon Prosser today shared ostensibly accurate renders of the iPhone 14 Pro, providing the most accurate look yet at what the device could look like when it launches later this year. In the latest video on YouTube channel Front Page Tech, Prosser revealed renders of the iPhone 14 Pro made by Apple concept graphic designer Ian Zelbo, highlighting a range of specific design changes...
iPhone 13 Always On Feature

iPhone 14 Pro Screen Refresh Rate Upgrade Could Allow for Always-On Display

Tuesday May 24, 2022 7:23 am PDT by
Last year's iPhone 13 Pro models were the first of Apple's smartphones to come with 120Hz ProMotion displays, and while the two iPhone 14 Pro models will continue to feature the technology, their screens could well boast expanded refresh rate variability this time round. To bring ProMotion displays to the ‌iPhone 13 Pro models‌, Apple adopted LTPO panel technology with variable refresh...
iPad Pro USB C Feature Coral

Deals: Apple's iPad Pro Reaches Up to $449 Off in Amazon's Latest Sales

Wednesday May 25, 2022 10:09 am PDT by
Amazon is marking down a wide variety of 11-inch and 12.9-inch iPad Pro models this week, with prices starting as low as $749.00 for the 11-inch tablet. You'll find the full list of sales below, all of which can be found on Amazon. Note: MacRumors is an affiliate partner with some of these vendors. When you click a link and make a purchase, we may receive a small payment, which helps us keep...
apple account card

Wallet App Now Supports Apple Account Cards on iOS 15.5

Wednesday May 25, 2022 5:01 pm PDT by
Apple appears to have recently updated the Wallet app to allow users to add an Apple Account Card, which displays the Apple credit balance associated with an Apple ID. If you receive an App Store or Apple Store gift card, for example, it is added to an Apple Account that was previously visible in the App Store and Apple Store apps. As of today, the Apple Account balance can also be added to...
Apple Tap to Pay iPhone

Apple Stores Rolling Out iPhone-to-iPhone Contactless Payments Starting Today

Wednesday May 25, 2022 6:54 am PDT by
Apple in February unveiled a new "Tap to Pay on iPhone" feature that will allow compatible iPhones to accept payments via Apple Pay, contactless credit and debit cards, and other digital wallets, with no additional hardware required. Apple began testing the feature at its Apple Park Visitor Center earlier this month, and now Bloomberg's Mark Gurman has tweeted that the feature will begin...
apple wwdc 2022

Apple Shares WWDC 2022 Schedule, Keynote to Take Place June 6 at 10:00 a.m PT

Tuesday May 24, 2022 9:06 am PDT by
Apple today confirmed that the keynote event for the Worldwide Developers Conference will begin at 10:00 a.m. Pacific Time on June 6, the first day of WWDC. The keynote will be an online-only event, though a select number of developers have been invited to the Apple Park campus for a viewing event. In addition to confirming the keynote date and time, Apple has shared the full WWDC 2022...