MasterCard 2004 Annual Report Download - page 7
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RobertW.Selander
PresidentandChiefExecutiveOfficer
IampleasedtoreportanexceptionalyearforMasterCardin2004.
Notonlydidweeclipseoneofourmostchallengingyearswithoneof
ourbest,butwealsoworkedtogethertocontinuetostrengthenour
uniquevalueproposition.Theopportunitiesunfoldinginpaymentstoday
aretremendous,andnocompanyisbetterpositionedthanMasterCard
tohelpcustomersseizethem.
Alltold,peopleusedMasterCard-brandedcardsfor16.7billiontransactionsworldwidein2004,an11.4percentincrease
over2003.Purchasevolume,thevalueofpurchasesmadeonourcards,grewtomorethan$1trillion,a12.4percent
increaseover2003.Grossdollarvolume(GDV),whichincludescashadvancesandbalancetransfers,roseto$1.5trillion,
withgrowthonalocalcurrencybasisof10.6percentoverlastyear.Importantly,ourrevenuesgrewfasterthanplanned,
from$2.2billionin2003,to$2.6billionin2004,a14percentincrease,adjustedfortheimpactoffavorablecurrency
fluctuations.Thisisasignificantachievement,sincegrowingourrevenueswasamajorfocus.
InregionsoutsideoftheUnitedStates,GDVgrewbyanimpressive11.7percentto$759.3billion,demonstratingour
continuedstrongexpansionaroundtheworld.IntheUnitedStates,whichaccountsforalmosthalfofourglobalGDV,
transactionsrose8.3percent,generating$695.9billioninGDV.
Morethananything,theseresultsvalidateourcustomer-focusedbusinessstrategy.Itisclearthattocarryonthisapproachis
toserveourshareholdersbest—foraswefindever-expandingwaystoseizeopportunitiesinthepaymentsindustry,wewill
continuetodriveprofitablegrowthforourcompanyand,mostimportantly,forourcustomers.
OpportunitiesAhead
Inthepasthalf-century,thepaymentsindustryhasrevolutionizedretailcommerce,deliveringunprecedentedsecurity,
efficiency,andconvenienceforconsumers;creatingnewrevenuestreamsforourcustomers;andfosteringthegrowthof
manycommercialsectors.
Today,electronicpaymentsareincreasinglyreplacingcashandchecksastheworldembraceseaseandspeed,andasaccep-
tancerapidlygrows.ConsumerscannowuseMasterCard
®
-brandedcardsatmorethan24millionlocationsworldwide—
anacceptancenetworkthatissecondtonone.