Visa and Mastercard target ads to offline spending
WSJ reports the companies’ plans to tie online and offline habits
Visa and Mastercard rumoured to be foraging into new advertising territory
The two biggest credit-card networks in the world, Visa and Mastercard, are set to forage into a new business area by targeting users with online advertising on the basis of their offline spending habits.
The news has been reported by the Wall Street Journal (WSJ) this week and is something that internet marketing consulting firms may be interested to hear about. The newspaper claims that if the plans were eventually put into practice then not only would it would be impressive in a technological sense, tying in offline and online trends but it would also represent an erosion of online anonymity.
It would be a huge breakthrough for the online world because where online advertising had previously been targeted solely at websites visited, links clicked or products bought, this would tie in ‘real-life’ purchases too. The WSJ claims that ad executives were brief in the perfect example of how such technology would work.
In theory someone could purchase a meal at a fast-food shop, pay on VISA or Mastercard and then that data would be stored and used to target them with adverts on weight loss products when they return home and log on to their computer.
A spokeswomen for Visa told the WSJ that the company was “continuously assessing its strategies including ways trend data could help create more effective online advertising.”
Susan Grossman, group head of media solutions at Mastercard Advisors told the WSJ in an interview back in August: “There is a lot of data out there, but there is not a lot of data based on actual purchase transactions. We are taking it a level deeper 26it is a much more precise targeting mechanism.”
Mastercard says it collects details for 23 billion transactions every year, including date and time, dollar value, and the merchant’s name and address. However, users do have the chance to opt-out on Mastercard’s website.
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