4th Quarter, 2010 Highlights
In addition to the performance highlights, MasterCard in the APMEA region also reported a number of significant achievements for the quarter ending 31 December 2010.
Premium:
The APMEA region saw significant momentum helping to further reinforce MasterCard as a leader in the premium space.
In Vietnam, Citibank and MasterCard collaborated to launch the Citibank PremierMiles Card with the World MasterCard card. Targeted at elite and affluent consumers, the Citibank PremierMiles Credit Card is the first and only travel credit card in the market. In addition to this, MasterCard also launched its Premium Cards Privilege program for Titanium, Platinum and World MasterCard cardholders in Vietnam. Tailored to meet the needs of the growing affluent, the program offers a wide range of privileges that cardholders can avail locally and around the world.
In Taiwan, MasterCard conducted its second annual “MasterCard 2011 Prestige for Life” privilege program. As part of the program, cardholders were able to avail a number of privileges in the Greater China region when they used their MasterCard World Card, Titanium Business Card or Business Card including airport pickup and golf services.
MasterCard won the Outstanding Lifestyle Award at the inaugural 2010 Digital Media Merit Award Asia, presented by Development Information Network (DEVNET), for the MasterCard Moments website which offers an online repository of value-added privileges and services designed for premium MasterCard cardholders. DEVNET is an international, not-for-profit organization which seeks to promote socio-economic development through the use of Information and Communication Technology (ICT). Supported by the 2010 Shanghai World Expo, the Digital Media Merit Award Asia recognizes companies that have achieved excellence in digital media campaigns.
Prepaid:
MasterCard and Travelex launched the first electronic traveler’s cheque in China, named “Cash Passport MasterCard”, in collaboration with the Bank of China (BOC). The new product provides Chinese consumers with a more secure, flexible and convenient method to manage their finances while travelling abroad. The Cash Passport MasterCard is available in three foreign currencies, including USD, Euro and GBP.
In the Philippines, MasterCard and Citi launched the Citi Prepaid MasterCard, making it the second country in Asia/Pacific region where this product is available. The card offers innovative electronic payments solution for businesses looking for simple, convenient and cost-effective ways to deliver payments for payroll, sales incentives, employee rewards, customer rewards, and emergency payments, among others.
Corporate Card:
In Egypt, HSBC and MasterCard launched a suite of new commercial cards - HSBC MasterCard Business cards. The commercial card program consists of both HSBC MasterCard Business cards for SMEs as well as the HSBC Corporate MasterCard cards for multinational companies.
In Indonesia, BRI and MasterCard launched the BRI MasterCard Corporate Card to offer companies across the country a more efficient alternative to manage expenses. The card is designed to enable greater control of company cash flow, whilst allowing the companies to monitor transactions for corporate Travel and Entertainment (T&E) expenses with more ease.
In light of the growing connectivity across cities in Greater China and increasing business travel, Taiwan Business Bank, in collaboration with MasterCard launched the Titanium Business Card in Taiwan. Positioned as the top business travel card, the card combines the advantages of titanium and business cards and is aimed at meeting the diverse needs of elite business cardholders.
MasterCard® PayPass™:
In Australia, GE Money and MasterCard relaunched the Wizard Clear Advantage MasterCard as the 28 Degrees MasterCard featuring MasterCard® PayPass™ contactless technology and EMV chip security. Tailored to meet the needs of travellers and online shoppers, the 28 Degrees MasterCard remains the only card currently available in Australia to have no international transaction fees, no currency conversion fees, no annual fee and no fees for overseas cash withdrawals.
In Singapore, MasterCard has been collaborating with key industry players to develop and pilot customized mobile payment solutions. Some 10,000 consumers in Singapore are currently piloting mobile payments as part of a trial collaboratively organized by DBS Bank, EZ-Link, Gemalto, MasterCard and StarHub. MasterCard cardholders participating in the trial will be able to make everyday mobile payments, including bus and train fares, with their existing mobile handsets.
In Japan, MasterCard collaborated with SOFTBANK MOBILE Corp., Orient Corporation, Credit Saison Co., Ltd., Gemalto, Kyodo Printing Co., Ltd., HTC Corporation and Trusted Logic S.A. to launch a NFC Field trial. Leveraging MasterCard PayPass, the trial will enable Android phone users to use their phones to make payments. The program also offers users the option to perform NFC transactions from two credit card issuers - Orient Corporation, the largest service provider of MasterCard PayPass in Japan, and Credit Saison, another Japanese leading financial institution.
Co-brand:
In China, the Bank of Communications (BoCom) and UK-based retailer Tesco announced the launch of a MasterCard-branded Tesco credit card, further strengthening MasterCard’s position as the market leader in China’s retailer co-branding business.
In Indonesia, Bank Bukopin collaborated with MasterCard to launch the new Bukopin Business Card for the MEDDOCS Motorcycle Club and Banker Bikers communities. Unlike other credit cards, the Bukopin Business Card is targeted toward communities and corporations and is not limited to individual or corporate transactions. The co-branded card also has the added benefit of acting as an identity card as it can be personalized by each community.
Merchant Promotions:
In China, MasterCard and China Eastern Airlines (CEA) launched a privilege program, targeted at affluent frequent flyers travelling in mainland China, Hong Kong, Macao and Taiwan, as well as selected international destinations. The program offers cardholders a buy-one-get-one-free/50% off promotion for all bookings on first and/or business class.
For the fourth year running, MasterCard and Starwood Hotels and Resorts joined hands to reward MasterCard cardholders who are members of Starwood Preferred Guest® (SPG), with a Free Weekend Night Award at over 250 Starwood Hotels and Resorts. The privilege is available to MasterCard cardholders when they stay for a minimum of three nights at any participating hotel. For the first time, the program this year was expanded to cover popular destinations in the Middle East and Africa region.
Accor and MasterCard Worldwide came together to provide MasterCard cardholders an exclusive yearend hotel deal and a chance to have their stay reimbursed. Cardholders who use their MasterCard cards will be eligible for three nights’ stay for the price of two.
eCommerce:
In Taiwan, MasterCard announced the launch of MasterCard shopping cart online platform, as part of a wave of activities with major online sites Buy.yahoo.com, Mall.taobao.com and Liontravel.com to boost online shopping and diversify payment methods. Together with the launch, MasterCard also offered "flash bargains" with the three online shopping websites to offer the lowest prices for popular products.
Financial Inclusion:
Looking to drive e-Commerce penetration and financial inclusion, MasterCard developed a payment solution for ‘Aadhaar’, a 12-digit Unique Identification Number (UID) that captures basic demographic and biometric information of Indian citizens. The UID will make it possible for citizens to establish their identity with financial institutions thereby providing them a gateway into the formal banking system. The payment solution which supports prepaid, debit and credit payment products will enable Aadhaar holders to perform payment transactions using UID numbers with biometric authentication.
Security:
In Taiwan, MasterCard in conjunction with Bank SinoPac, unveiled the world's first MasterCard display credit card, the MasterCard “SinoPac Display Card”. The SinoPac Display Card incorporates one-time password security technology and offers consumers increased payment security and convenience.
Sponsorship:
For the second year running, MasterCard held the annual MasterCard Hall of Fame Marketing Awards, to celebrate the best card marketing programs pioneered by banks and merchants across the South and South East Asia region. The awards were conferred by MasterCard based on a review of the card marketing campaigns launched by banks region-wide over the past year. This year, a new category, Best Acquisition Program, was added to the financial institution award categories.
In Singapore, tickets to Italian fashion maestro Valentino’s first-ever restropective in Asia, were made available to MasterCard cardholders for priority booking for a limited period before being opened thereafter to general public. As the official card for Valentino, Retrospective: Past/Present/Future, MasterCard cardholders were able to purchase the tickets at special discounted rates.
Knowledge Leadership:
Further expansion of MasterCard’s knowledge leadership program saw the release of survey results on several topics, including consumers’ attitudes towards travel based on the MasterCard Worldwide Index of Consumer Purchasing Priorities, consumers attitudes towards online shopping based on a survey conducted by MasterCard, results of the latest MasterCard Worldwide Index of Consumer Confidence and consumers’ attitudes toward making socially conscious purchases based on the MasterCard survey on Ethical Spending.
The latest NCAER (National Council of Applied Economic Research) - MasterCard Worldwide Index of Business Confidence was released. The Index is based on a survey which measures business confidence on four indicators and includes a Political Confidence Index (PCI).
An Insights Report, titled ‘Women-Owned SMEs in Asia/Pacific, Middle East and Africa: An Assessment of the Business Environment’ was published. The Insights report includes a comparative analysis of the business environments across 24 markets in Asia/Pacific, Middle East and Africa, juxtaposed with the performance of women-owned SMEs in the market, providing a basis for assessing the extent to which women-owned SMEs have succeeded.
MasterCard® Purchase with Purpose™:
MasterCard’s Purchase with Purpose program saw strong growth with several highlights this previous quarter with initiatives spread across many markets.
MasterCard’s first ever Purchase with Purpose initiative in Hong Kong was aimed at helping people with intellectual disabilities gain vocational skills for a brighter future. MasterCard made a donation to Hong Chi Association for every transaction made in Hong Kong or Macau with a MasterCard branded card, to raise funds raised that go towards training young adults with mild to moderate intellectual disabilities in floral arrangement.
MasterCard also launched its first Purchase with Purpose initiative in Japan in collaboration with Roppongi Hills’ annual Christmas Market. The program enabled MasterCard cardholders to give back to children in need when they used their MasterCard cards at the Christmas Fair. Part of the proceeds of each purchase made with a MasterCard card were donated to the Make-A-Wish of Japan Foundation, a volunteer organization supporting children with life-threatening illnesses to grant their wishes.
In Malaysia, MasterCard collaborated with Malaysia Tatler on a MasterCard Purchase with Purpose initiative to support women’s causes. Malaysia Tatler launched a limited edition coffee table book to raise funds for women at Women’s Aid Organization (WAO). MasterCard made a donation to the organization for every commemorative Coffee Table Book purchased using a MasterCard card and also pledged an additional RM 20,000 to kick start the fund-raising drive.
For the second year running, MasterCard and UNIFEM Singapore joined hands through the 2010 UNIFEM Buy to Save sale to raise funds for women at risk from violence and exploitation. All proceeds collected from the MasterCard Purchase with Purpose initiative will support women’s causes such as providing scholarships for girls, shelters for at-risk women, as well as other public education programs.
Travel and Tourism:
One of the latest MasterCard efforts in this area is the Destination Vietnam campaign organized jointly with Vietnam’s leading tour operator, Saigontourist. Specially designed for MasterCard cardholders, the campaign aims to promote inbound travel to Vietnam and entitles MasterCard cardholders to exclusive benefits and privileges during their stay in the country. The promotions offered under Destination Vietnam span across categories including air travel, dining, shopping, recreation and entertainment in Vietnam.
Consumer Education:
Continuing its commitment towards fostering financial literacy in emerging markets, MasterCard rolled out various consumer education tools and programs.
In the Philippines, MasterCard launched Priceless Pointers, a personal finance management website to provide consumers with basic money management and financial planning skills. The Priceless Pointers website has resources, tips and links containing helpful hints and informative videos on how to manage debt, plan for retirement or save effectively.
MasterCard also launched its financial education program for the Vietnamese youth, aimed at inspiring interest in personal finance management and improving financial awareness among youth in the country. The program included a half-day event and the launch of a localized e-Learning Center with locally adapted as well as easy-to-understand topics and helpful tools in English and Vietnamese.
Corporate:
In Japan, Robert Luton was appointed as Division President, Japan. In this position, Luton has overall responsibility for all aspects of MasterCard operations in Japan with the objective of building the MasterCard family of brands. His core responsibilities include strengthening business alliances with MasterCard’s customer base in Japan, enhancing MasterCard brand awareness and promoting the growing usage and acceptance of MasterCard payment cards in this key market.
MasterCard also appointed Antonio Corro as Country Head and Chief Representative for Indochina. Based in Vietnam, Corro is responsible for exploring new business opportunities along with developing, driving and implementing market strategy across the region. He is also in charge of overseeing business development as well as ensuring efficient delivery for all MasterCard’s consumers.
