Mastercard has created a new augmented reality smartphone app to display benefits to customers.
Customers with a Mastercard credit card will be able to explore three categories of the card via the app: Experiences, Everyday Value, and Peace of Mind. Each category includes a virtual setting that represents it. Peace of Mind, for example, is set in a spa while Everyday Value takes place in a home. The three portals are fully immersive and allow users to look around the chosen “room” to discover its benefits. Each benefit is also represented by an applicable item; for instance, clicking on golf clubs will display a screen about Priceless Golf benefits. In the financial services sector, many companies provide a plethora of guides and articles about personal finance on company websites, according to a Gartner report. However, Mastercard is currently the only card network to offer an AR app experience that details its benefits and guides. Mastercard was inspired by a 2018 U.S. Credit Card Satisfaction Survey that found only one-third of credit card users understand all of the perks available to them.
AR experiences are rising in popularity as a dominant business marketing tool. A variety of brands, including Gucci, Starbucks, and Samsung have created AR adventures to pique consumer interest. Often, brands adopt an AR strategy to promote a new business venture, such as Starbucks’ holiday drinks or Samsung’s Star Wars partnership. Mastercard is different in that the brand hopes to keep its AR-powered app up-to-date and continuous for credit card customers to use at any time.
Customers will get to learn everything they need through the AR experience once the new Mastercard app launches in the spring. Other financial sectors could be inspired by Mastercard’s AR tactic when presenting user benefits in the future.