Mobile Applications

Mastercard Launches AR App To Highlight Card Benefits

Mastercard Launches AR App To Highlight Benefits

Mastercard, in an effort to help customers better understand the benefits available to them, has launched an augmented reality (AR) program to highlight that information.

The program is housed in an app that will provide users with a photorealistic AR experience in a 360-degree virtual environment, where they can interact with a number of displays that educate them on the features of their card.

To begin, the users must scan their cards on their phones. They will see three portals, each labeled with one of the Mastercard benefits: Experiences, Everyday Value and Peace of Mind. They can then select an area and move their phones around to explore the benefits, characterized by entertaining visual displays. For example, when visiting Peace of Mind, one is greeted with a depiction of a spa, and in Everyday Value, they might see a nice home.

As the user explores, they can click around to learn more about certain benefits. For example, they might tap on a virtual set of golf clubs to learn about Mastercard’s Priceless Golf benefits.

The app will be available on the App Store for iPhones in Q2 of 2020, and additional accessibility and regional availability will come in the future.

According to the J.D. Power 2018 U.S. Credit Card Satisfaction Study, benefits and rewards often drive customer satisfaction with cards, but only about a third of credit card holders understand all the benefits available to them.

Raja Rajamannar, chief marketing and communications officer at Mastercard, said the goal of the virtual reality program is to deliver a “multi-sensory experience” as they strive to do as much as possible for customers and to increase their knowledge of the card product’s perks.

Augmented reality is on the rise across business marketing, with Target trying out programs that allow users to dive into seasonal Halloween or summertime deals via virtual reality. Also, Apple is working with other companies to launch virtual reality glasses later this year. And Snapchat operator Snap is doubling down on AR usage as they implement many features that allow users to experiment and play with the new technology.

——————————

New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

TRENDING RIGHT NOW