For those who are still visiting price comparison portals and taking help of 'compare credit cards', hoping to get a fair deal in the process better go to option where the facility of 'compare master card' is given. Reason: World's leading credit card brand, MasterCard is looking forward to striking a partnership deal with an Internet company that deals in Online shopping.
The company (referring to MasterCard) is of opinion that this partnership will help it in studying consumer spending patterns and in the process, identify the typical purchases which they will be making.MasterCard Marketplace, the name of the Online mall, will operate on technology that has been developed by Next Jump, which is a New York-based company that studies the customer behaviour by observing retailers associated with them and helps manufacturers in coming up with products ( Read: Compare Credit Cards ) that goes down well with target clientèle.
Speaking of the MarketPlace, the mall. It is an interactive form of Online service that will cater to people having MasterCard in availing offers like savings on branded items and other services from well-known traders.
Meanwhile, the move, touted as a smart business strategy to remodel the Online retail business has also withdrew flak from leading dailies who have taken a pot-shot at the motive behind the move as they expect retailer should be the driving force behind such development rather than a payment network.
The move has also sparked off controversy regarding the personal data being used by the company without seeking their consent.
It is to be noted that other prominent players namely American Express and Visa are also operating on the same lines.
Interestingly, American Express is already running a website that goes by the name of 'Daily Dish', which offer discounts. Visa, on the other hand is helming its funds for developing website RightCliq that aims to aid consumers that want to compare credit cards and shop Online at the same time.