Mastercard, Next Retail Concepts Upgrade Online Shopping

Consumers can now shop for exclusive products from Fred Segal using proprietary technology from Next Retail Concepts.

December 07, 2018

PURCHASE, N.Y. – The days of scrolling through pages of products while shopping online could be over with a new ecommerce experience from Mastercard and Next Retail Concepts. The innovative digital environment lets shoppers browse and buy just like they are in a physical store, across any browser.

Per a press release, Mastercard says that consumers will find this new, immersive way to shop very different than the ecommerce experience they are used to. A shopper can virtually navigate through a three-dimensional store, interact with their favorite brands and engage with digital content curated by the retailer. Purchases are frictionless, secure and occur in the same environment, as the technology integrates seamlessly with a merchant’s existing ecommerce platform.

“At Mastercard, we’re using our products and services to create solutions for retailers that allow them to meet the ever-growing expectations for a frictionless, customized experience, across any channel or connected device,” said Sherri Haymond, executive vice president of digital partnerships at Mastercard. “[W]e are evolving ecommerce to bring the physical store to life in an immersive, digital environment, all while enabling exclusive offers and seamless payment.”

Mastercard and Next Retail Concepts are launching the platform with premium retail brand, Fred Segal, and will premiere the experience at 29Rooms in Los Angeles, Refinery29’s experiential event. Together with Refinery29, the companies curated a collection of holiday gifts shoppable only online. At the point of purchase, shoppers paying with their Mastercard can sign up for a one-time loyalty reward to receive a $30 statement credit when they spend $200 or more on the collection.

“Our proprietary technology transforms the traditional ecommerce landscape within our innovative platform to create exciting and engaging immersive shoppable experiences that tell a brand story. This is a dynamic new way to shop,” said Neil Cole, CEO and founder of Next Retail Concepts. “Mastercard, Fred Segal and Refinery 29 have been wonderful partners who share Next Retail’s vision of a more enriching e-commerce experience.”