Mastercard unveils AI assistant to help cardholders use benefits

Mastercard has introduced an AI-powered assistant called Mastercard Max to help cardholders find, understand and use their card benefits.

C6 Bank in Brazil is among the first issuers bringing the service to customers.

Issuers can embed Mastercard Max in their digital channels, including mobile banking apps, or connect it to existing assistants.

According to the payment group, Mastercard Max combines conversational AI and benefit content from both Mastercard and the issuer to create a “more intelligent and personalised experience”.

Cardholders can ask questions about their benefits in their own words.

Mastercard said the experience “evolves with the customer”, with recommendations adjusting to their card, eligibility, location and context.

Meanwhile, the assistant is intended to help issuers turn existing offerings into “deeper engagement and loyalty”, it added.

Mastercard chief consumer product officer Bunita Sawhney said: “Mastercard Max unlocks more value for cardholders from the benefits they already have while helping issuers turning everyday spend into deeper relationships.

“By making benefits a more active part of the customer experience, issuers can also strengthen engagement and create new cross-sell opportunities.”

Mastercard manages the agent models, content and orchestration behind the assistant. The company said this minimises the development work required of issuers.

C6 Bank Innovation head Gustavo Torres said: “Consumers shouldn’t have to dig through multiple apps or websites to understand their card benefits. At C6 Bank, we already use artificial intelligence to simplify customer experience, with AI agents each performing a specialised and specific function.

“Mastercard Max will be integrated into this experience to answer questions and help cardholders find the most relevant benefits when they matter most, at home or abroad.”

SNB Group, Nedbank, I&M Bank and Attijariwafa Bank are also working to offer the assistant to customers. Citi is exploring opportunities to offer it in Singapore and Hong Kong.

Mastercard said Max is available globally.