As CBOT, we integrated our chatbots to Mastercard’s one-click secure payment product Masterpass to support companies to meet their customers’ changing digital habits and increasing expectations. Thanks to this integration, any transaction that requires a payment step can be performed on CBOT’s chatbots and virtual assistants.

 

What kind of an experience does the customer expect?

Customers constantly demand one step ahead, better and more seamless experiences in digital environments. The most important points that customers expect from a digital experience are to be presented through multiple alternative channels – channels that have become part of his daily life- if possible, to progress intuitively and seamlessly. For example, the customer who shops online wants it to include the payment step through a digital platform where he/she uses frequently as a part of daily life, to proceed seamlessly and to be completed where it starts without being transferred between channels.

No matter how fast customer expectations are increasing, there is an essential component in any flow designed within this framework: security. Security is at the top of the expectations, especially in experiences involving personal data and financial transactions.

Global payment infrastructure giant Mastercard’s one-click payment product Masterpass, aims to ensure fast, easy, and secure payments through companies of all sizes.

What is Masterpass?

Masterpass is Mastercard’s digital payment solution. It allows individuals to keep their card information in one secure infrastructure and make payments quickly. Users who are members of Masterpass save their cards to this infrastructure and make the payment with a single click by choosing from the registered cards at any payment step.

Let’s talk about a few important features of this solution:

Open to all cards – Not only cards with the Mastercard logo, but all bank and credit cards can be saved in the Masterpass infrastructure.

Fast – Since the card information is already registered, the payment process can be completed easily.

Secure – All the payments made by Masterpass are secured by the security solutions provided by Mastercard.

Advantageous – It is possible to benefit from special consumer campaigns and advantages when paying with Masterpass.

Why is it advantageous to pay with Masterpass?

Masterpass is not an application that people register with a username and password, but a digital payment solution that works integrated in the payment infrastructure of the Mastercard merchants.

Masterpass offers faster and safer shopping in thousands of websites and mobile applications around the world. Customers complete their payments safely by choosing among the cards previously saved in Masterpass without re-entering their card information.

When making payments with Masterpass, Mastercard’s security stages protect the customers’ real card information and personal information. At the registration stage, the cards are verified by the bank by sending an OTP to a phone number registered to the customer’s bank. Card information is stored under the advanced infrastructure of Mastercard and only the card user can access this information.

What is required to use Masterpass?

The first step to use Masterpass is to register which is possible  via member company’s website / mobile app or via masterpass.com.

Then the card information is entered and the cards are verified with an OTP sent to the mobile phone number.

Masterpass is a free of charge service for card users.

With this service, companies enable their customers to make payments through their most preferred digital channel.

But, is it possible to make a payment by chatting with a chatbot?

As CBOT, we offer a conversational payment experience thanks to our Masterpass integration

As CBOT, we enable companies to deliver digital experiences that meet end user expectations. We are aware of the fact that enabling an experience to be completed on the platform that it has started is an important component of the customer expectation. Let’s consider one is buying a pair of shoes. The customer wants to find the shoe, to get responses to his/her questions about the product, to order the product and complete the shopping by making the payment on the same platform, for example, WhatsApp. However, the experience does not end with this, following the cargo after the order, getting information about the delivery process, canceling the order or adding new products to the order are also part of the shopping experience. In short, it is necessary to think in the same way in all kinds of experiences involving any payment process, whether it is buying a flight ticket, booking a holiday, completing a course registration.

Online shopping cycles in various sectors can be provided in a conversational user interface. A very important part of this increasing trend, which is called “conversational commerce”, is the completion of the payment in a conversational experience, which is the last step of a sale.

As CBOT, we have completed our integration with Masterpass to ensure that companies meet customer expectations at the highest level. With this integration, we can present the experience as a whole, including the payment step through the same platform in a conversational way. Whether it is the website of the institution, the mobile app, the Facebook Messenger page, or the WhatsApp Business account, it is possible to have the same experience as a whole. Payment is not necessarily a step that the company need to transfer the user to another channel. Thanks to CBOT’s Masterpass integration, the process can be completed by selecting one of the registered cards with a single click in the last step of the process that proceeds like chatting with a person. With this integration, you can chat with a chatbot on WhatsApp, Facebook Messenger or other platforms to buy your plane ticket, to register a course for your child or to make your daily grocery shopping.

Our solution means a new opportunity to increase sales for both large corporate companies and small / medium companies that want to sell through platforms such as WhatsApp and Facebook Messenger. Thus, companies that want to serve on messaging platforms besides corporate website or mobile application, and companies that have no website or corporate mobile application, but want to sell through messaging platforms can provide their customers with a holistic experience thanks to our Masterpass integration. Online shopping is accessible through CBOT’s chatbots and makes the lives of masses easier. 

Conclusion

We always state that the need to download applications has decreased with the rise of artificial intelligence and chatbots since 2016, a new era in terms of the user interface has evolved, and messaging platforms and voice assistants have emerged as environments where individuals communicate with each other and meet their corporate needs. As CBOT, we think that we have fulfilled another important component of the “conversational AI” revolution with Mastercard integration.