How Mastercard built trust in an increasingly digitized marketplace

Mastercard's move toward more e-commerce transactions during the Covid-19 pandemic highlighted new drives for consumer trust and engagement

During the Covid-19 pandemic, the shutdown of the physical retail sector meant Mastercard had to pivot swiftly to adapt to increased use of e-commerce and contactless technology. With widespread embracing of digital technology during global lockdown, the challenge was not reaching consumers, but engaging and creating trust to last beyond the restrictions.

Rustom Dastoor, executive vice-president, head of marketing and communications – North America at Mastercard, said that while “reaching customers was no problem”, ensuring people had the confidence to engage online was the bigger challenge.

Dastoor outlined how Mastercard was able to use digital technology to undertake behavioral segmentation, which targets consumers by location and interests, offering personalization at scale. Striking a balance between giving customers relevant information about products and services, while complying with data privacy regulations, has become a priority for Mastercard that has continued even when bricks-and-mortar retailers have reopened.