Mastercard Taps Mapping Data Visualizer Carto To Power Retail Partners’ Location Insights
Mastercard and and Carto have developed a packaged mapping solution to inform retail and real estate decision-makers on Site Selection, Property Valuation and Marketing and Urban Planning.
As Mastercard continues to look to location intelligence to power its Connected Car, mobile payments, and Smart Cities initiatives, the credit card company has struck an alliance with mapping data visualization provider Carto (formerly CartoDB) to assist its retail and real estate partners.
“It’s no secret that retail and real estate have been disrupted over the past decade. Traditional Retailers are learning to co-exist with e-commerce giants and satisfy the demands of the ‘I want it now’ consumer, while real estate companies are witnessing a paradigm shift in the way both individuals and organizations use, rent and buy property in an era of flexible workspace and short-term leases,” writes Florence Broderick, solutions marketing manager for Carto.
“Navigating this on-and-offline landscape requires intelligence based on always-on data streams, and today we’re excited to announce our latest venture with Mastercard to bring the power of location intelligence to retail and real estate companies,” Broderick adds.
The partnership comes with two main features.
Carto’s mapping tools will be supporting “Mastercard Spend Data,” a program that provides commercial and consumer insights based on aggregated and anonymized retail across a range of geographic levels for the last five years.
The collaboration is aimed at developers, designers, and data analysts working with custom location applications.
The second part involves Mastercard Retail Locations Insights, which is focused on helping retailers and real estate managers analyze hyperlocal areas for the purposes of Site Selection, Property Valuation and Marketing and Urban Planning. That solution is built on top of CARTO and powered by Mastercard Spend Data.
In larger sense, there’s the fact that roughly 90 percent of shopping occurs in physical places, not online. But as on-demand apps and “omnichannel” strategies require a blurring of lines between “bricks” and “clicks” with features like shop online/pick-up in-store, the ability to react and understand what drives those consumer choices is essential to a company like Mastercard, which needs to be known for more than just offering payment systems.
By partnering with companies like Microsoft on Smart Cities, Carto and digital navigation platforms like HERE, Mastercard’s breadth of data makes it a more important tool for the businesses who accept it as a transaction processor.