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Mastercard Launches App For Card Benefit Information

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Mastercard launched a new augmented reality or AR app that enable cardholders to explore the the benefits that come with their card.

At the Consumer Electronics Show or CES in Las Vegas on Wednesday, Mastercard said the industry-first app allows cardholders to see and access their card benefits by transporting them to a 360-degree virtual environment.

Cardholders can use their mobile devices for benefits, rewards and services through interactive portals.

The app will be available in the App Store for iPhones in the U.S. during the second quarter of 2020, and in other regions and more devices later in the year.

Mastercard said the technology can be white labeled for its issuing partners so that customized experiences can be created for their cardholders.

Mastercard cited the J.D. Power 2018 U.S. Credit Card Satisfaction Study that showed that while rewards continue to drive consumer satisfaction with cards, only one-third of credit card holders completely understood all the benefits available to them.

Upon launching the app, cardholders will be prompted to scan their Mastercard with their smartphone to start the session. They will then be able to view three portals, with 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 for a 360-degree experience. Specifically, the 'Peace of Mind' portal transports customers to a spa, while the 'Everyday Value' portal is represented by a stylish home.

Once inside the virtual environment, cardholders can use their phone to look around the virtual room and discover their benefits, with each represented by a relevant item.

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