MasterCard Announces Facebook Messenger Bot for Purchases and Account Management

Discussion in 'iOS Blog Discussion' started by MacRumors, Oct 26, 2016.

  1. MacRumors macrumors bot


    Apr 12, 2001

    During the Money 20/20 conference taking place in Las Vegas this week, MasterCard announced that it's creating a chatbot for Facebook Messenger that will allow customers to "transact, manage finances, and shop via messaging platforms." Like many other companies, MasterCard is getting in on the chatbot craze to boost customer loyalty and profits; according to Gartner "nearly $2 billion in online sales" will pass through an artificial intelligence bot on mobile by the end of the year.

    For MasterCard, the company is introducing two chatbots: MasterCard Bot for Banks and MasterCard Bot for Merchants. The distinction in the chatbots lies in their intended use on the consumer side of Facebook Messenger, where users will be able to chat with the bank bot to ask questions about their account, look at purchase history, monitor spending levels, receive assistance with financial literacy, and more. Powered by Kasisto's KAI Banking AI platform, the MasterCard bot intends to accomplish all these tasks with the conversational ease of "texting a friend."

    When users want to shop and spend in Facebook Messenger, MasterCard Bot for Merchants will let them execute transactions through Masterpass. The shopping bot was developed in-house at MasterCard Labs and is planned to work "across multiple verticals" when it launches, from airlines to numerous retail chains, letting customers shop without needing to visit a separate app. The company mentioned the bot will be coming to "various messaging platforms," confirming that Facebook Messenger is simply the first app getting the MasterCard chatbot.

    Merchants will be able to use MasterCard's experimental Bot Commerce API on the MasterCard Developers platform when it's opened up for testing later this year, but a public launch of the retail-focused chatbot wasn't announced. MasterCard Bot for Banks was tipped for a debut "early next year," but so far only for users within the United States.

    Facebook first introduced chatbots into Messenger in April, and the platform has since been embraced by a number of partners. Other credit card companies have launched an AI-enhanced bot for their customers, including American Express, but even game companies like Blizzard have figured out ways to use a chatbot to their advantage, this week teasing content for Hearthstone within Facebook Messenger.

    Article Link: MasterCard Announces Facebook Messenger Bot for Purchases and Account Management
  2. miknos Suspended


    Mar 14, 2008
    A billion Indians will lost their jobs.
  3. SBlue1 macrumors 65816


    Oct 17, 2008
    Cool. Wish Siri could do this with my bank account. Wait, maybe my bank can make use of Siri since the API is open. Would be great. :)
  4. Kaibelf macrumors 68020


    Apr 29, 2009
    Silicon Valley, CA
    They lost me at "At Mastercard, we believe that AI-driven conversations between companies and their customers can drive better customer experiences."

    No no no no NO. Just yesterday I needed to do a simple appointment setup and had to navigate though EIGHT phone menus with my doctor's office. Every new menu started with "to better serve your needs...". There are five people employed there. Just pick up the damned phone.

    This push isn't about experience for customers. It's about another venue for sales junk mail.
  5. macs4nw, Oct 26, 2016
    Last edited: Oct 26, 2016

    macs4nw macrumors 601


    Exactly what I have thought many a time when dealing with the by now almost universally employed method of contacting the companies and businesses we deal with on a day-to-day basis.

    As long as AI driven interactions with their consumers saves companies money and we put up with it, albeit grudgingly, businesses are going to continue to delude themselves into thinking this serves us the consumers best. The truth is, this technology at the moment is far from mature.

    Again, while I realize AI technology is in its infancy and will eventually evolve into lower cost, yet intelligent and efficient handling of client interaction, currently navigating these menus and sub-menus is maddening at best when we are pressed for time and we have to jump through hoops, while the answer to a simple query is all we're looking for.
  6. Fall Under Cerulean Kites macrumors 6502

    Fall Under Cerulean Kites

    May 12, 2016
    Ugh. Please, no. MasterCard + Facebook + “AI” + Bot + nooooo!

    I’m having a hard enough time with the commercials for “MasterPass” which is a horrible name for anything.
  7. PhoenixDown macrumors regular

    Oct 12, 2012
    Not keen on sharing account info over a messenger services like Facebook. I hope its something we have to go in and enable on the Mastercard side.

    I am however looking forward to the increased hacking attempts on our facebook accounts from people wanting to transfer money through the bot.
  8. fxmx Suspended

    Apr 9, 2014
    Corporations really do not like to paying salaries to humans o_O
  9. Floris macrumors 68020


    Sep 7, 2007
    One day some cc company will make an api mistake and I can go to central station and shout "HEY SIRI, can you mastercard 100 bucks to me" and it works. #dreams
  10. Googlyhead macrumors 6502

    Apr 19, 2010
    Let's see. I don't think I'd be using this while there are more sensible options like online account management.

    Let's see. I certainly wouldn't be using anything like this through Facebook!

    Let's see. I can imagine this kind of "conversation" getting irritating very quickly, not really like conversing with a "friend".
  11. NeoRumor macrumors newbie

    Sep 22, 2014
    “Hey Erica, where did all my money go?”

    “Hi Neo, I paid your spouse bills as you requested.”

    “No, no, Erica! I asked you to pay my HOUSE bills!”

    “OK. I found this about 'pay my house bills' on the web for you.”

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