Mastercard Eyes Opportunities to Profit From Sharing Economy

by Joseph Walent 0

Mobile Banking Concept

 Anticipating the overall change in how commerce takes place and the expectation consumers are bringing to transactions, Mastercard commissioned a study that seeks to help merchants deliver more personalized experiences. The paper’s release coincides with the Money 20/20 event underway in Europe.

“The sharing economy is experiencing an extraordinary level of growth, transforming the fundamental way industries operate and people experience a variety of things,” says Mark Barnett, president, Mastercard UK & Ireland. “This report is designed to help us understand the opportunities and challenges today.”

Mercator Advisory Group believes MasterCard and its peers will be more directly involved in the design and delivery of customer experiences with issuers to aid merchants in building customer loyalty. The vantage point Network players have will be in the facilitation of multi-merchant and service vendor cooperation to deliver comprehensive consumer experiences built around well anticipated intentions and historical behaviors. As payment options for consumers expand, providing actionable insight to merchants will be one way the established payment networks will deliver to their own members.

Overview by Joseph Walent, Associate Director, Customer Interactions Advisory Service at Mercator Advisory Group

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