Banks Use Transaction Data for Commerce Media
Banks leverage card spending to create new ad revenue streams.
In brief
Banks leverage card spending to create new ad revenue streams. Banks like Citi and JPMorgan Chase use transaction data to target ads and generate revenue beyond payment fees. Originally reported by Pymnts.
Quick answers
- What is commerce media?
- Commerce media spans multiple merchants and channels beyond single retailer ecosystems.
- What is the key takeaway from Banks Use Transaction Data for Commerce Media?
- Banks like Citi and JPMorgan Chase use transaction data to target ads and generate revenue beyond payment fees.
What is commerce media?
Commerce media spans multiple merchants and channels beyond single retailer ecosystems.
“Mastercard describes commerce media as the broader category spanning merchants, industries, channels and consumer touchpoints”
Banks build commerce media businesses
Citi launched commerce media using 70 million customers and 6.5 billion transactions.
“Citi Commerce Media uses insights from more than 70 million U.S. customers and 6.5 billion annual transactions”
JPMorgan Chase and Mastercard follow
JPMorgan Chase targets 80 million consumers with merchant offers through Chase Media Solutions.
“Chase Media Solutions uses transaction information from roughly 80 million consumers to target and measure merchant offers”
FIS offers item-level data
FIS matches offers to items at checkout using real-time purchase information.
“FIS’ Smart Basket can match offers to individual items at checkout using real-time, item-level purchase information”
Consumers miss offers
Half of checkout offers go unseen, costing $42.4 billion in missed discounts.
“An April PYMNTS Intelligence study found half of offers available at checkout went unseen”
Merchants want better promotions
58% of merchants used checkout promotions last year, but data access limits personalization.
“58% of 60 surveyed grocery, retail and restaurant merchants had used checkout-integrated promotions”
Issuers seek checkout promotions
90% of issuers want embedded checkout promotions despite data control concerns.
“90% of surveyed issuers were very or extremely interested in embedded checkout promotions”
The one thing
Banks like Citi and JPMorgan Chase use transaction data to target ads and generate revenue beyond payment fees.
