MasterCard 2007 Annual Report Download - page 13

Dear Fellow Shareholders:
Leadership is what MasterCard is all about. In 2007,
we continued to find new ways to deliver enhanced value
to our constituents — customer financial institutions,
merchants and cardholders — while delivering very strong
results for our shareholders. Thanks to the contributions of
our employees, it was one of our most successful years.
2007 was remarkable for MasterCard not only in terms
of our performance, but also in terms of the many ways
in which we continued to strengthen our organisation.
As chairman, I am greatly enthused by what I see at
MasterCard: strong customer and merchant relationships;
powerful, global payment brands; innovative payment
solutions; an exceptional processing platform; a
knowledgeable and diverse employee base; and a unified
global structure and strategy that enable us to capture
opportunities all over the world.
These strengths set us apart in an industry that continues
to evolve, and MasterCard is leading the way in this
transformation. From our 2006 transition to a publicly
traded company, to our leadership position in new payment
solutions like MasterCard PayPass, to our pioneering
knowledge leadership insights and reports, MasterCard is
a driving force in the payments revolution. We are delivering
increased value to our customers and merchant partners
and are changing the way consumers and businesses pay
for everything that matters.
In fact, MasterCard is so engrained in everyday life that
many take our role for granted. To understand our true
value, consider a world without electronic payments.
Without MasterCard — our brands, global network and
market insights — many aspects of modern commerce
would be significantly impacted.
While we deliver tremendous value to all constituents,
we also face some challenges to our business. For example,
there are regulatory initiatives that seek to impose rules and
price controls that would hamper our ability to compete
and invest. We believe such legislation or regulation would
be counterproductive for all stakeholders. This type of
intervention restricts our ability to advance commerce
through the speed, convenience and security offered by
electronic payments and is detrimental to consumers and
the global economy at large.
Indeed, experience tells us that the competition and
innovation that come from free and dynamic markets result
in greater choice and cost savings for consumers. We are
committed to ensuring that our products remain competitive
and continue to benefit the institutions that issue them,
the merchants that accept them and the consumers and
businesses that rely on them.
In countries and regions around the world, MasterCard
has opened new acceptance channels, offering greater
efficiencies both within and across borders. We are strongly
committed to reducing reliance on cash and cheques in
favour of more secure — and more efficient — electronic
payments. MasterCard will remain a driving force in the
payments revolution, leading the effort to advance
commerce globally.
Richard Haythornthwaite
Chairman of the Board of Directors
London, United Kingdom
April 2008
11
“We are strongly committed to
reducing reliance on cash and cheques
in favour of more secure — and more
efficient — electronic payments.”
Richard Haythornthwaite
Chairman of the Board of Directors