Starting in Q2 of this year, Mastercard customers will be able to get a new, “augmented” understanding of the benefits and rewards available to them as cardholders. The augmented reality app, announced by Mastercard late last week, will offer cardholders a virtual tour of three different portals representing Mastercard’s three reward categories: Experiences, Everyday Value, and Peace of Mind.
Each category inside Mastercard’s augmented reality environment has its own appearance: a home setting for Everyday Value, for example, and a spa for Peace of Mind. Within each portal is a virtual room with various benefits denoted with representative symbols and avatars (i.e, tapping on a golf club image generates a pop-up option to explore Mastercard’s Priceless Golf benefits).
Mastercard chief marketing and communications officer Raja Rajamannar put the app in the broader context of the company’s ongoing efforts to provide more engaging, interactive experiences. “At Mastercard, we’re using our technology and solutions to deliver multi-sensory experiences for consumers every day – whether they’re shopping, taking transit, or exploring the card benefits they care about,” Rajamannar said.
AR as a marketing solution for fintechs is a use case familiar to Finovate audiences. Alums ranging from ebankIT (and its parent company, ITSector) to Fiserv has demonstrated how they have leveraged AR to deliver compelling marketing content to customers.
Augmented reality in fintech will featured in a keynote address at FinovateEurope in Berlin next month. When Will AR & VR Become Meaningful Tools in Customer Engagement? will be held on Tuesday, February 11 on the Future Tech Industry Stage.
2020: A Breakout Year for Fintech in Emerging Markets? – From major investments in fintechs in Latin America and Africa to the challenger banking “space race” in Singapore, 2020 could turn out to be a breakout year for fintech in many growing economies around the world.
8 Banks You’ll Compete with If You Offer More Than 2% on Savings – Banks are facing an increased number of competitors these days. Not only are traditional banks vying for customer deposits, but fintechs and challenger banks want part of their funds, as well.
China Says 你好 to American Express – The People’s Bank of China (PBOC), China’s Central Bank, announced it has accepted an application from American Express (AmEx) that expressed the company’s intention to operate in China.
Future Banking: Creating an Incumbent Challenger – Finovate talks with Ronit Ghose, global head of banks research and co-head of the fintech theme group at Citi about the future of challenger banks and why some shouldn’t be calling themselves a “fintech” at all.
Treasury Management Innovator HighRadius Earns Unicorn Status – HighRadius, a company that offers AI-powered order-to-cash and treasury management solutions, announced today that it has raised $125 million in Series B funding. The investment boosts the Houston, Texas-based firm’s valuation to $1 billion, earning it the status as one of the first new fintech unicorns of 2020.
Sprint and Wirecard to Deliver the Internet of Payments – Telecommunications giant Sprint and German financial services provider Wirecard announced they are teaming up to deliver the Internet of Payments.
Influencers as Innovation: Fintechs Turn to the Famous in Bid to Boost Visibility – As Snoop Dogg celebrates his first anniversary as a high-profile Klarna shareholder and RDC announces that it has hired a network of social media influencers to help promote its new digital banking app, it’s clear that firms are all-in when it comes to using celebrity to showcase everything fintech.
banqUP, PSD2, and the Future of Open Banking in Europe – We reached out to banqUP CEO and founder Krzysztof Pulkiewicz to talk about the company’s latest accomplishments in open banking, as well as what the landscape for fintech innovation is like inside and outside the CEE region.
ING’s Katana Becomes a Standalone Fintech – Dutch financial services corporation ING announced today it is spinning off Katana into its own entity called Katana Labs. As a part of its move to independence, Katana has closed $3.9 million in funding, half of which ING contributed “to enable further growth and to pave the way for an independent future for Katana.”
Finovate Podcast Episode 21: Romeo Maione, Launchfire – New Year and a new episode of the Finovate Podcast! Romeo Maione, Director of Business Solutions, Lemonade by Launchfire, joins host Greg Palmer to discuss marketing through training, and why the U.S. could be falling behind on digital adoption.
Bankjoy and Zogo Finance Team Up to Onboard and Educate Gen Z Customers – Bankjoy and Zogo Finance are betting that helping credit unions and community banks educate their members rather than “sell” to them is the key to better engagement for CUs and better financial health for consumers.
The Digital Identity Infrastructure and What it Has to do with Fintech – The last decade brought about a lot of discussion around digital identity. Dozens of security companies created new solutions to help banks authenticate their user’s identity and verify their personal information.
Proptech Advances in Latin America As Loft Raises $175 Million in New Investment – The $175 million in Series C funding raised by Latin American digital real estate platform Loft this week offers an insight into how proptech is providing new investment opportunities within the emerging markets of countries like Brazil and Mexico.
Nebula Merges with Open Lending, Forming a New Publicly Traded Company – Lending solutions provider Open Lending has agreed to merge with Nebula Acquisition Corporation, an acquisition company sponsored by True Wind Capital.
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- Forbes highlights Meniga’s comeback.
- BNP Paribas Securities Services extends contract with Temenos.
- Signicat appoints Johan Tjarnberg as new Chairman and Asger Hattel as new CEO.
- Standard Chartered rolls out public portal for cross-border payments tracking.
- JKOPAY taps InComm to make its QR code and barcode payments processor technology accepted at retailers across Japan.
- Flywire announces expansion plans.
- PayActiv appoints David Reidy as Chief Legal Officer.
- Personal Capital ranked number 3 on list of Top 100 Registered Investment Advisors of 2019 by assets.
- Fiserv Starts New Year with Pair of New Credit Union Partners.