Banks Put Transaction Data to Work in Commerce Media
A retailer can see what customers buy from that firm’s online and offline channels. A bank with a large card portfolio can see spending across a much wider range of merchants. Payments networks and technology providers have other views of transactions and checkout. Financial services companies are pushing deeper into commerce media, creating revenue opportunities […] The post Banks Put…
Banks are expanding their reach into commerce media by leveraging transaction data from millions of customers and billions of annual transactions. Citi has recently launched Citi Commerce Media, joining JPMorgan Chase and Mastercard Commerce Media in using this data to help advertisers understand audiences and measure campaign results.
This shift from traditional retail media, which operates within a single retailer's ecosystem, represents a broader category that includes financial institutions, payments networks, travel companies, and digital platforms. Citi's move into commerce media is driven by the opportunity to provide advertisers with insights beyond transaction fees, including the potential to influence consumer behavior through targeted offers.
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