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Mastercard to launch Chatbots for Banks and Merchants

mastercard_kasisto

American Express launched a messenger bot last month, and now, Mastercard announces that their customers in the U.S. will soon be able to start using an A.I. powered bot, that can answer over 1,000 questions about topics related to personal finances and others.

Mastercard KAI will be available to the U.S. Mastercard credit card and banking customers in early 2017, and is developed by Kasisto.

“Mastercard KAI, the Mastercard bot for banks, will seamlessly extend Mastercard services to customers on messaging platforms and make financial information and decisions part of consumers’ everyday lives. In this testing phase on Messenger, Mastercard is partnering with Kasisto, the company that created KAI Banking, the conversational artificial intelligence (AI) platform, to power branded virtual assistants and smart bots for financial services and is a current participant in the Mastercard Start Path Global program”, Mastercard wrote in a blog post.  

The bots are created to help businesses and customers with their purchases or any other transaction related issues. The bot will also be able to inform customers about their account balance, account history, make payments, identify spending patterns and alert them while making specific kind of payments.

“We’re excited to partner with Mastercard to help drive conversational commerce and engage with consumers where they spend their digital lives – on messaging platforms,” said Zor Gorelov, CEO and co-founder, Kasisto. “This bot enables entirely new experiences, bringing Mastercard benefits and offers to consumers with human-like conversations that are personal and contextual. We’re powering conversational commerce, anytime, anywhere – just as consumers have come to expect.”, noted Mastercard blog post.