Mastercard introduced Mastercard Max on 21 October, an artificial intelligence assistant that finds and explains the benefits cardholders already have. It is embedded in issuing banks' apps and adapts to the card, eligibility and the user's location, for example by pointing out airport lounge access. The first bank is Brazil's C6 Bank, followed by SNB Group, Nedbank, I&M Bank and Attijariwafa Bank. Citi is exploring offering it in Singapore and Hong Kong.

What it means: Banks spend significant sums on card benefits such as travel insurance, discounts and airport lounge access, yet many customers do not even know they have them. That means value is lost and the card is treated simply as a way to pay. Mastercard uses artificial intelligence to surface the information at the right moment, inside the bank's app, which can increase usage and loyalty. For Greek banks, which now compete with digital banks and fintechs, such a tool is a way to stand out without cutting fees. There is also a data question: to suggest something relevant, the assistant needs location and transaction data, so clear consent and transparency under the GDPR are required. Recommendations must also be accurate about the terms, because wrong information about insurance cover can lead to complaints. For merchants that take part in benefit programmes, the change could bring more customers, provided the suggestions are well targeted.

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