TITLE
Recommendation to adopt resolution authorizing City Manager, or designee, to execute a contract, and all necessary documents and any subsequent amendments, with Mastercard International, Incorporated, of Purchase, NY, for subscription to the Mastercard Retail Location Insights platform, at no cost, for a period of three months, unless extended at the discretion of Mastercard and the City Manager. (Citywide)
DISCUSSION
City Council approval is requested to enter into a contract with Mastercard International, Incorporated (Mastercard), for subscription to the Mastercard Retail Location Insights (MRLI) platform, for a minimum period of three months, at no cost to the City.
On April 14, 2020, the City Council adopted 25 individual actions related to a local Economic Relief Package designed to help working families and small business owners impacted by the COVID-19 pandemic. City staff are in the process of implementing these actions. To support these economic relief efforts, City staff would like to subscribe to Mastercard’s MRLI platform, which will provide the City with an integral data source to understand the economic impacts of COVID-19 on small businesses and provide insights for staff to support existing economic relief efforts.
MRLI is a platform that provides anonymized, aggregated Mastercard merchant transaction data, so cities can understand spending patterns by sector, neighborhood, and demographic. Mastercard remains the sole source provider of reliable and timely data to validate, evaluate, and benchmark the sales-based dynamics of cities like Long Beach. Additionally, by offering these services at no charge to City, Mastercard is the most cost-efficient provider. City staff will leverage MRLI for the following purposes related to COVID-19:
· Establish a citywide baseline of spending to help calibrate the City’s economic impact analyses;
· Measure how shelter-in-place guidelines have impacted spending by sector, yielding additional input ...
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