Mastercard has unveiled a new augmented reality (AR) app experience for its cardholders, affording a photorealistic AR experience that takes you to a 360-degree virtual environment where a series of portals bring the card benefits to life.
The idea is to use AR to educate customers on the many benefits available to them with their cards. Mastercard cites a 2018 J.D. Power U.S. Credit Card Satisfaction Study that suggests that while rewards drive customer satisfaction with cards, only a third of credit card holders actually understand all of the benefits available to them. With the new AR feature, cardholders will enjoy a fully immersive experience, accessed from their mobile devices.
"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," says Raja Rajamannar, Chief Marketing and Communications Officer at Mastercard. "By leveraging an intuitive AR design, cardholders can now easily find and fully explore their benefits that otherwise might have been overlooked."
"Digital first consumers are the first to explore and use technology enabled touchpoints across the entire payments journey," adds Tim Sloane, Vice President at Mercator Advisory Group. "With the new Mastercard benefits app, these cardholders will experience an immersive and truly unique environment where every tap delivers the value and benefits of their card in a fashion never experienced before."
Upon launching the app, cardholders will be prompted to scan their Mastercard to start the session. Using their phone to scan the area around them, cardholders will see three portals, each one representing one of the three categories that Mastercard benefits fall into: Experiences, Everyday Value and Peace of Mind.
To explore a benefit area, cardholders can tap the related portal to launch a fully immersive 360-degree experience that brings that area to life. For example, Peace of Mind is represented by a spa, and Everyday Value is a stylish home.
Once inside, use your phone to look around the virtual room and discover their benefits - each represented by a relevant item. For example, tapping on a set of golf clubs prompts a pop-up screen where a user can learn about, and access, their Priceless Golf benefits. When finished exploring, tap to exit the portal turn.
The app will be available in the App Store (for iPhones) in the U.S. in Q2 2020, with additional regional and device availability coming later in the year. The technology can be white labeled for Mastercard's issuing partners, creating customized experiences for their cardholders.