MasterCard has introduced a new marketing platform which will harness the power of social media, analytics to deliver revenue for partner banks.
Dubbed as Priceless Engine, the platform will also track engagement and transactions on campaigns to translate these findings into meaningful feedback, create and share content across borders to increase scale as well as analyze data in real-time.
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Through a four-part process, the new marketing platform will provide bank partners with deep insights to deliver the right offers to their customers at the right time.
Additionally, MasterCard is also planning to team up with social media partners such as Facebook to expand Priceless Engine’s global scale and presence.
The company said that these affiliations will offer consumers access to the most relevant, timely and quality offers.
Furthermore, MasterCard announced that is seeking to triple its investment in digital marketing in Asia Pacific during the next three years.
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By GlobalDataMasterCard senior vice president and group head of marketing for Asia Pacific, Sam Ahmed, said: "MasterCard Priceless Engine will be the cornerstone in the payments ecosystem, connecting issuers, merchants and consumers.
"As MasterCard research shows, the transaction is where social and digital engagement happens, and having the right offers, the right data, the right assets, and the right content at the right time will create a behavior change with the consumer."
