Mastercard has launched the Mastercard Innovation Engine, a platform that enables issuers and merchants to provide digital capabilities to customers.
The Purchase-based company said the plug-and-play platform brings together Mastercard assets and fintech services to provide enhanced customer experiences. Created with Flybits and Kasisto, the first aspect of the new platform is the Mastercard Contextual Engagement Solution, which includes a digital channel so consumers can better interact and maximize their card benefits and rewards.
Mastercard said the data contextualization capabilities of Flybits and the conversational capabilities of Kasisto enable issuers and merchants to create personalized experiences for customers at the appropriate time.
The platform is now available in the U.S. and will be made available to international markets in 2020.
“Consumer expectations are changing rapidly and as a result we must keep pace,” said Amnah Ajmal, Mastercard’s executive vice president of core products. “Given where Mastercard sits at the epicenter of payments, we recognize that we can serve as a hub for scaled innovation delivered through our issuing partners. By enabling our customers a means to significantly faster speed to market, together, we can drive the digital transformation of the consumer experience.”