MasterCard 2007 Annual Report Download - page 19

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In 2007, we rotated a number of our top executives to
new positions, with the aim of broadening their expertise
by increasing cross-functional and international exposure.
In addition, we are committed to having a positive impact
on a world that is increasingly interconnected and driven by
global economic forces. This means, for example, creating
consumer education programs that increase fi nancial
management skills to enable current and future cardholders
to use debit and credit wisely.
It also means standing squarely behind a range of broader
educational and philanthropic initiatives, whether strongly
supporting academic scholarship funds for minority
students in the United States or working with Junior
Achievement to fund the JA Global Marketplace program,
to help students in 22 countries understand the impact of
international trade and the global economy. Employees
around the world regularly volunteer their time and efforts
for a broad range of causes, giving back to the communities
in which we do business.
Guiding our organization is a dynamic Board of Directors
with broad functional experience. I thank Norman C.
McLuskie and Manoel Luiz Ferrão de Amorim, both of
whom left the Board in 2007. We are deeply appreciative
of their service. We also welcome two new Board members,
Silvio Barzi, Executive Vice President of UniCredit Group
in Italy, and José Octavio Reyes Lagunes, President,
Latin America Group, The Coca-Cola Company. These
individuals not only bring strong expertise but also add
further dimension to a Board that is already rich in
international representation.
We Are Committed to
Advancing Commerce Globally
The last few years have been nothing short of
transformational for our company. We’ve expanded
worldwide, grown our brands and consulting capabilities,
strengthened our global processing platform and developed
more innovative products and solutions. Notably, our 2006
initial public offering was a defi ning event for the payments
industry. In the course of these achievements, we’ve made it
clear that MasterCard is a unique player in the market and a
valuable ally to customers and merchant partners worldwide.
We intend to capitalize on the advantages that set us
apart, enabling us to combine the power of our brands,
technology and insights to make commerce faster, more
secure and more valuable for everyone.
In addition, we will fi nd new ways to broaden and
deepen relationships, helping customers optimize portfolios
and enter new markets while delivering greater value
to merchants.
Increasingly, customers and merchants look to us to drive
opportunities for growth, while consumers seek simpler,
safer, more convenient ways to pay. As a true catalyst at
the heart of commerce, MasterCard is leading the way.
Robert W. Selander
President and Chief Executive Offi cer
Purchase, New York, U.S.A.
April 2008
Tap & Go Leadership
MasterCard PayPass strengthened its lead among quick-pay
solutions as both consumers and merchants embraced its speed
and convenience over cash. By year’s end, cardholders were using
more than 23 million PayPass cards and devices, while merchant
locations worldwide surpassed 95,000. PayPass programs and
pilots were under way in 22 countries including Canada, France,
Italy, Korea, Spain, Switzerland and Taiwan. Major commercial
launches last year included market fi rsts in China with the
Industrial and Commercial Bank of China and the United Kingdom
with The Royal Bank of Scotland. In the United States, new
participating merchants included Offi ce Depot and BP, and across
Canada, restaurant chain Tim Hortons now accepts MasterCard,
including PayPass technology.