MasterCard is working with Parkeon, a parking management company, to enable merchants to deliver offers and loyalty programs to motorists while they are parking their cars.
The card network will communicate offers via Parkeon's global network of electronic payment terminals at nearby parking lots. The technology is designed to allow merchants to deliver targeted offers quickly to consumers as they arrive in a neighborhood and provide another way to engage with consumers before they make a payment, an increasingly important part of marketing for payment companies.
"The way we shop is changing and today's shopper wants to feel that they are getting the best and most personalized experience possible. By combining MasterCard's global network, data and technology assets together with Parkeon's global distribution infrastructure, we can start the retail experience from the moment we get out of our cars," said Hany Fam, president of global strategic alliances at MasterCard, in an Oct. 3 press release.
MasterCard and Parkeon will test the new technology in a pilot in Rockville Centre, N.Y, starting on Oct. 7, with a full rollout in Europe and the U.S. scheduled for 2014.
MasterCard is also upgrading its rewards technology to take better advantage of mobile devices' ability to transmit transaction data between a card issuer and a merchant. This is part of a broader strategy at the card network to add services on top of its core payment business.