MasterCard is working with Facebook and other social media platforms in Asia Pacific to garner insights on consumer sentiment which can be sold on to banks.
The 'Priceless Engine' will see MasterCard use its analytic capabilities to help its partner banks understand consumer sentiment and trends based on social conversations while tracking engagement and transactions on campaigns.
"Asia is fast exceeding the rest of the world in internet and social media usage, with one out of every two social media users globally residing in the region," says Sam Ahmed, senior vice president and group head, Marketing, Asia Pacific, MasterCard. "Given this exponential growth in social media, digital marketing can no longer just be about communication or engagement. MasterCard's Priceless Engine now has the ability to drive brand differentiation and significant revenue growth for our partners."
MasterCard plans to triple its investment in digital marketing in Asia Pacific over the next three years and says it will be working closely with key partners in the social media space - including Facebook - in an effort to get closer to consumers.