Mastercard has acquired Dynamic Yield from McDonalds, lauding the personalisation platform and decision engine as a ‘natural addition’ to its existing suite of services.
The transaction is anticipated to close in the first half of 2022, with the Dynamic Yield team continuing to operate as normal, subject to customary closing conditions. A restructuring, however, wil see the platforms CTO Ori Bauer become CEO, whilst incumbent CEO Liad Agmon will continue to serve in an advisory role.
Dynamic Yield functions as a software-as-a-service (SaaS) platform leveraging AI and other technologies to support retail, financial services, travel and restaurant industry brands.
The offering operates across online and offline channels in order to personalise consumer experiences with brands and delivers individualised product recommendations, offers and content based on factors such as purchases, page views, time of day, current store traffic and trending products.
”The notion of going into a store or opening a webpage to find an experience perfectly tailored to you is no longer farfetched,” said Raj Seshadri, President of Data & Services, Mastercard.
“It’s a reality that more brands are deploying and more consumers expect. With Dynamic Yield’s expertise and our scale and relationships, we’ll be able to bring the connections between the end consumer and our customers to new heights. We’re delighted to continue working with McDonalds, a longstanding client and proven innovator in this space.”
By acquiring Dynamic Yield, Mastercard aims to strengthen ‘unique, existing synergies’ across McDonalds digital engagement experiences, which are currently powered by the financial services company’s SessionM and Test & Learn.
The fast food chain has further detailed plans to integrate Dynamic Yield’s capabilities internationally across its ordering channels, having so far leveraged the technology for its drive-thrus and kiosks in a number of markets since purchasing the platform in 2019.
The commercial development is Mastercard’s fourth major announcement in the past two months, having most recently partnered with Jeeves in order to launch a multi-currency payment card in the Mexican market.