61% of consumers increased use of at least one digital payment method in the past year and 93% said they were likely to use a digital payment method in the next year.

The global growth of open banking (consumer-permissioned data) is driving consumer demand for innovative digital experiences – like money management tools, detailed digital receipts, transaction insights, identity verification, personalized rewards and value-added offers – all in one app.

Mastercard’s Digital First program improves time, cost and resource efficiencies, and provides deeper insights, resulting in higher portfolio profitability. It also provides tools to optimize business operations and performance, in addition to attracting and engaging consumers.

Banking experiences aren’t the only digital experiences Mastercard can elevate. GlassesUSA.com used Dynamic Yield’s deep learning algorithm to drive deeper customer engagement and satisfaction, while growing revenue by 87% and purchase uplift by 68%.

Small businesses want to provide their customers with sophisticated digital experiences, too. In South Africa, Mastercard partnered with Standard Bank to develop SimplyBlu, an online tool enabling small and medium-businesses to build their own websites, securely accept online payments, promote their products via social media and manage their business operations and cybersecurity.