The latest reports indicate that MasterCard has agreed to acquire the personalization platform and decision engine firm Dynamic Yield from McDonald’s. However, the financial terms of this deal were not disclosed to the public.
Dynamic Yield’s SaaS platform utilizes advanced artificial intelligence and other technologies that deliver customized product recommendations, offers, and content that is based on things like past page views, purchases, time of day, trending products, and current store traffic.
Purchased by McDonald’s in 2019 to help in overhauling the restaurant behemoth’s drive-through and various ordering kiosks, the company currently works with over 400 companies across the financial services retail, restaurant, and travel industries.
MasterCard believes that the purchase will enable it to help its users, partners, and clients to meet consumers’ surging demand for a more customized experience. That will enable the payment giant firm to create some unified engagement and loyalty hub.
The president of data and services at MasterCard, Raj Seshadri, said:
“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.”