“Our objective is provide more convenience, so there isn’t that awkward moment with the bill at the end of the dining experience,” he told AdExchanger. “In [early tests] we got good feedback, and people seemed to like it. We are certainly tiptoeing toward [ways to] expand the capability to include loyalty data [or] mobile order-ahead, but right now, it's just a payment app for us.”
Brands like The Cheesecake Factory and JetBlue are trying to bolster the utility of their branded apps, particularly when studies show 23% of users abandon an app after a single use, according to app retention analytics from Localytics.
The airline JetBlue is testing a Masterpass integration with Facebook messenger to engage customers who book directly from a live chat.
Masterpass then connects people securely to their banking app to confirm the checkout directly and then brings them right back to the chat box.
Although it’s still early, one could gather how Mastercard’s own transactional data set might be enriched with these new insights into the shopper journey.
While Masterpass already facilitated faster checkouts on browsers and apps, Gerry Lyons, chief innovation officer for Mastercard, thinks the extension to physical stores positions the brand as a stronger omnichannel payment and commerce provider.
Mastercard says its network of banking and merchant partners are its main differentiator from competitors like Apple.
Mastercard presently has 2.3 million cards issued, which can be used at 40 million merchants globally. Its 22,000-strong bank network issues approximately 2.3 billion of those cards.