Mastercard has agreed to buy personalisation platform and decision engine company Dynamic Yield from McDonald's. Financial terms were not disclosed.
Dynamic Yield's SaaS platform uses advanced AI and other technologies to deliver individualised product recommendations, offers and content based on things like past purchases, page views, time of day, current store traffic and trending products.
Acquired by McDonald's in 2019 to help overhaul the restaurant behemoth's drive throughs and ordering kiosks, the firm currently works with more than 400 firms across the retail, financial services, travel and restaurant industries.
Mastercard says that the acquisition will help it help customers and partners meet consumers’ growing demand for a more personalised experience, enabling the payment giant to create a unified engagement and loyalty hub.
Raj Seshadri, president, data and services, Mastercard, says: "The notion of going into a store or opening a webpage to find an experience perfectly tailored to you is no longer farfetched. It’s a reality that more brands are deploying and more consumers expect.
"With Dynamic Yield’s expertise and our scale and relationships, we’ll be able to bring the connections between the end consumer and our customers to new heights."