Dubai, 6 August 2008 - MasterCard Incorporated announced strong second quarter 2008 results for the Asia/Pacific, Middle East & Africa (APMEA)[1] region. For the quarter ending 30 June 2008, the region witnessed double-digit growth in gross dollar volume (20.3%), purchase volume[2] (23.4%), purchase transactions (19.3%), cash transactions (22.6%) and cards issued (16.7%) versus the same period in 2007.
As of 30 June 2008, over 226 million MasterCard cards (excluding Maestro® and Cirrus) had been issued by MasterCard customer financial institutions across APMEA. Cardholders in the region made more than 842 million purchase transactions in the second quarter of 2008 and could use their MasterCard cards at 27.3 million acceptance locations worldwide.
"We are very pleased with our second quarter results. Despite challenging economic conditions, MasterCard achieved strong growth across our wide spectrum of products in the diverse region of APMEA. Our results demonstrate the resilience of the MasterCard strategy and business model. We will continue to focus on building valuable relationships with our constituents and expand our product reach into the region," said Andre Sekulic, president, Asia/Pacific, Middle East & Africa, MasterCard Worldwide.
For the quarter ending 30 June 2008, the Maestro® brand mark appeared on over 221 million cards in APMEA. Consumers can now make online debit point of sale purchases with their Maestro cards at over 1 million merchant locations in APMEA.
In addition to the performance highlights, MasterCard in the APMEA region also reported a number of significant achievements for the quarter ending 30 June 2008.
2nd Quarter, 2008 Highlights
In addition to the performance highlights, MasterCard in the APMEA region also reported a number of significant achievements for the quarter ending 30 June 2008.
PayPass™:
A field trial to test MasterCard PayPass™ "Tap & Go" mobile contactless payments using Near Field Communication (NFC) enabled mobile phones, kicked off in Japan. 150 merchant locations near Tokyo are part of the trial. MasterCard also launched a low cost MasterCard PayPass™ enabled contactless chip module in Japan, with Toshiba.
The Kaohsiung City Government and Kaohsiung Rapid Transit Corporation, announced that the TaiwanMoney Card is now officially in operation at Kaohsiung Mass Rapid Transit (KMRT). The card is the world's first contactless payment solution interoperable between KMRT, public buses and ferries in Kaohsiung and retail channels across Taiwan and internationally. It combines MasterCard credit, stored value features, access to the Cirrus® Global ATM network and PayPass™ contactless functionalities.
Debit
In Malaysia, EONCAP Islamic Bank launched the world's first Islamic Debit MasterCard card equipped with PayPass™ contactless payment capabilities - the EONCAP Islamic Debit MasterCard card. The Syariah compliant card combines debit, contactless, EMV and ATM functionalities.
Bank Internasional Indonesia Tbk. launched the BII Platinum Debit MasterCard Card, targeting BII wealth management customers in Indonesia.
Co-Brand:
The APMEA region saw significant momentum with the introduction of several innovative co-brand card programs with well-known retailers. In New Zealand, The Warehouse Low Interest MasterCard card, offers cardholders a low interest on purchases made at the retailer. The ADCB, EMKE Group, one of the UAE's largest retailers, launched the ADCB Lulu MasterCard credit card, which offers a wide range of savings and rewards on every purchase.
The GE Money Shopping Card provides customers in Indonesia with rebates on grocery purchases. It also has a unique "Shopping Advisor" feature that allows customers to do "smart" shopping by providing them with up-to-date information on the lowest grocery prices at the nearest retailers, via their mobile devices.
Other innovative card programs include the launch of a card for automotive enthusiasts in Indonesia, in collaboration with Bank Danamon and Adira Insurance. The Autocillin Card offers attractive vehicle insurance payment plans and credit back on petrol purchases. In India, Standard Chartered Bank and Emirates Airlines launched the Emirates Standard Chartered Platinum MasterCard Credit card. Samba and Mobily launched the Kingdom of Saudi Arabia's first co-branded telecom credit card, which is fully Shariah compliant and on an Islamic platform.
Premium:
MasterCard and Qatar National Bank announced the launch of the "by invitation only" QNB MasterCard World Card, Qatar's first World MasterCard® Card. In Mauritius, the new AfrAsia Titanium MasterCard credit card comes with unique privileges including exclusive access to world class golf tournaments.
Other significant card program launches were the Standard Chartered Platinum MasterCard credit card in Jordan and the MasterCard N-Value credit card with issuer, OMC Card, in Japan.
For the second year running, fourteen senior executives from the Asia/Pacific luxury goods and services industry were awarded full scholarships to the MasterCard-ESSEC Luxury Brand Management Executive Program. The four-day intensive course held in Singapore is run by the prestigious ESSEC Business School, one of the world's top business schools in international management education. This year, the program has been expanded to include a session in Hong Kong.
Global Commercial Products:
MasterCard and RHB Banking Group launched the RHB Platinum MasterCard Business Card for entrepreneurs in Malaysia. The card features a higher credit limit, flexible installment payment plans, as well as networking programs for cardholders.
In New Zealand, FCm Travel Solutions, in partnership with Westpac and MasterCard, launched the FCm Travel Card. It features a new travel payment system designed for the payment of business related travel expenses for multiple employees, using either a centralized account or individual purchasing cards.
Sponsorships:
MasterCard leveraged its sponsorship of the UEFA EURO 2008™ football championship, to provide priceless experiences to cardholders. As part of a promotion, cardholders from UAE, Nigeria, Indonesia, Malaysia and Thailand won an opportunity to experience the football championship live in Vienna, Austria.
Commemorating 25 years of operation in India, MasterCard tied up with the Mumbai Indians cricket team as their founding sponsor for the India Premier League. As part of the deal, MasterCard ran the Priceless Catch promotion which gave spectators a chance to catch a six hit ball and win a cricket ball signed by Mumbai Indians Captain, Sachin Tendulkar.
MasterCard's sponsorship of the ongoing Great Singapore Sale, Taipei Great Sale and Dubai Summer Surprises continues to strengthen its retail and card usage promotion platform across APMEA. In Singapore, the first month of the Great Singapore Sale (GSS) saw spend increase by 27% compared with the same period last year.
The GSS saw the addition of a charity element this year with the MasterCard-Great Singapore Sale 'Shop for a Cause' Night. The event saw participants shopping at participating malls to help the less fortunate. MasterCard provided 20 people with S$2,000 each on pre-paid MasterCard cards to be spent on items for donation to their chosen charity. The 20 participants were the best entries picked following a call for submissions in the media.
Travel:
The 'MasterCard Enjoy! Japan' campaign was launched in support of the 'Visit Japan' campaign, a yearly initiative hosted by the Japanese government to promote incoming foreign tourist traffic. During the campaign period foreign travelers can enjoy exciting perks and exclusive offers when using their MasterCard cards to make purchases at participating retailers in Japan.
The Thomas Cook-MasterCard Travel Promotion kicked off in Egypt in June. The year-long promotion offers MasterCard credit and debit cardholders the opportunity to win instant prizes every month when booking their travel.
Knowledge Leadership:
Further expansion of MasterCard's knowledge leadership program saw the launch of the fourth and final title in a series of books on Asian consumer trends - The Future and Me: Power of the Youth Market in Asia by Dr. Yuwa Hedrick-Wong, Economic Advisor to MasterCard Worldwide in Asia/Pacific.
A number of topical MasterInsights Reports, a series of ongoing research and analysis of business and financial issues, were also published. Topics included the concurrent globalization and decoupling behaviors of Asian nations from the U.S, and consumer behavior in relation to e-commerce. Survey results on the payment habits and perceptions of consumers were distributed to regional media. Results of the latest MasterCard Worldwide Index™ of Women's Advancement and the MasterCard Worldwide Index™ of Consumer Confidence were also announced.
In the UAE, a business and media briefing was held to present the results of the MasterCard Consumer Lifestyles survey. A panel of speakers representing key retail, hospitality and travel segments presented their view on trends and opportunities in the region.
Market briefings led by members of the MasterCard Knowledge Panel, were held in Singapore, Hong Kong and New Delhi as part of the MasterCard Worldwide Centers of Commerce™ program. This is the second year in which the MasterCard Worldwide Centers of Commerce Index™ was presented to regional media, government and business organizations. The Index is the most comprehensive analysis to date of how major cities compare in performing critical functions that connect markets and commerce globally.
MasterCard continues to further its leadership in the women's space with the MasterCard-U21Global scholarship program for women in travel and tourism. This is the third year the scholarship is being offered to women across Asia/Pacific, South Asia, South Africa, Saudi Arabia and the UAE. MasterCard is offering twenty full scholarships to the Executive Diploma of Business Administration from U21Global, the world's premier online Graduate School.
Consumer Education:
Responding to the Chinese State Council's call to reduce consumption of plastic bags, MasterCard collaborated with the All-China Women's Federation and Chaoyang District to encourage 800,000 families in the area to protect the environment. As part of the "The Green Family Campaign", MasterCard donated environmentally friendly shopping bags to the Women's Federation of Chaoyang District for distribution to participating families.
Merchant and Customer Education:
MasterCard demonstrated its commitment to security innovations by hosting a Payments Systems Seminar in Morocco. The seminar highlighted MasterCard efforts to providing the safest, most secure and reliable payment card in consumers' wallets.
Across Africa, MasterCard helped raise awareness among merchants on the importance of complying with the Payment Card Industry Data Security Standard (PCI DSS), which sets forth requirements for enhancing payment account data security. The standard, which was developed by MasterCard and the other founding payment brands that comprise the PCI Security Standards Council, is intended to help companies protect payment account data.
In Australia, MasterCard supported the International Consumer Credit Card Summit for the fifth consecutive year. Attended by delegates from Australia's top banking and finance leaders, including industry regulators and international and local industry experts, the Sydney based Summit discussed the key issues that are affecting Australia's payments industry. Dr. Yuwa Hedrick-Wong, Economic Advisor to MasterCard Worldwide in Asia/Pacific presented his views on the long term outlook of the Australian consumer credit market.
-Ends-
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 18 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information, go to http://www.mastercard.com.
Contacts:
Joni Asquith,
GolinHarris Dubai,
+971 4 332 3308,
mobile + 971 50 4661914,
jasquith@golinharris.com
Actual results may differ materially from such forward-looking statements for a number of reasons, including those set forth in the company's filings with the Securities and Exchange Commission (SEC), including the company's Annual Report on Form 10-K for the year ended December 31, 2007, the company's Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that have been filed with the SEC during 2008, as well as reasons including difficulties, delays or the inability of the company to achieve its strategic initiatives set forth above. Factors other than those listed above could also cause the company's results to differ materially from expected results.
[1] Includes Asia/Pacific (A/P) and South Asia, Middle East Africa (SAMEA) regions collectively.
[2] Growth in gross dollar volume and purchase volume are calculated on a local currency basis.
© Press Release 2008
