Singapore – Mastercard has launched Mastercard Max, an AI-powered benefits assistant that lets card issuers present relevant perks to cardholders through their own digital channels, according to the company.
The assistant is available globally, and Mastercard announced it in Singapore on 28 October with Asia Pacific issuers in its sights. It is designed to help cardholders find benefits and understand how to use them when they matter most.
Mastercard cited its own research showing that 68% of affluent millennials say they would use their card more if they knew more about their available benefits. The company added that cardholders across Asia Pacific increasingly want rewards that reflect their lifestyles, interests and spending preferences.
Mastercard Max combines conversational AI with benefit content from Mastercard and issuers, allowing cardholders to ask questions in their own words and receive relevant answers. Mastercard manages the AI models, content and orchestration, so issuers do not have to build or maintain the technology themselves.
Issuers can embed the assistant in their mobile banking apps or connect it to existing AI assistants through agent-to-agent capabilities. Mastercard says recommendations adjust to a cardholder’s card, eligibility, location and context, and that the system is designed with privacy, security and responsible data practices at its core.
In one scenario outlined by the company, the assistant identifies travel benefits as a customer books a trip. On the way to the airport, it can then remind them about lounge access or Fast Track services, before pointing out nearby dining or entertainment on arrival.
Joyce Bo, Executive Vice President, Core Payments, Asia Pacific, Mastercard, said the product aims to make existing benefits more useful in everyday life. “The opportunity for issuers is to make the benefits already available to cardholders much more useful in their everyday lives,” said Bo.
“Rather than simply listing what’s available, Mastercard Max helps people make the most of their cards by connecting them with relevant benefits when they need them. That can make a real difference to how often customers reach for their cards and help build stronger loyalty over time,” added Bo.
On the adoption front, C6 Bank, a leading Brazilian digital bank, is among the first issuers bringing the assistant to cardholders. SNB Group, Nedbank, I&M Bank, and Attijariwafa Bank are also working to offer it to their customers.
Separately, Citi is exploring opportunities to bring Mastercard Max to customers in Singapore and Hong Kong SAR.
C6 Bank already uses AI agents that each perform a specialised function, and Mastercard Max will be integrated into that set-up.
“Consumers shouldn’t have to dig through multiple apps or websites to understand their card benefits. At C6 Bank, we already use artificial intelligence to simplify customer experience, with AI agents each performing a specialized and specific function. Mastercard Max will be integrated into this experience to answer questions and help cardholders find the most relevant benefits when they matter most, at home or abroad,” said Gustavo Torres, Head of Innovation of C6 Bank.
