MasterCard 2011 Annual Report Download - page 3

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1www.mastercard.com
From left to right:
Ajay Banga
President and Chief Executive Of cer
Richard Haythornthwaite
Chairman of the Board of Directors
Drivers of Growth
Our business has global reach and has continued to
experience momentum. The components of our growth
can be broken into three primary drivers: trends in
personal consumption expenditure; movement from
paper-based transactions to electronic forms of payment;
and our share of electronic payments. Our emphasis
on these drivers is evident in our accomplishments as
we continue to grow, diversify and build our business.
We’re growing our business by making investments in
our product capabilities and business development.
We’ve secured key deals in the credit, debit, prepaid and
commercial space with Huntington, KeyBank, RBS Citizens,
Sovereign and SunTrust, just to name a few. In Mexico,
we partnered with the government and Banamex to launch
commercial credit programs. This is just a small sampling
of the inroads we have been making around the world.
We’re also diversifying our business by geographies and
customers. Examples include, but are not limited to,
our commercial alliance with China Union Pay; our U.K.
public sector procurement wins; our relationship with
Western Union, through which consumers around the
world can use our prepaid cards to transfer and spend
money; our renewed partnership with Poste Italiane,
which represents Europe’s largest social benefits card
program; and our alliance with Airtel Africa.
In addition, we’re building new businesses through
our Information Services; our acquisition of the prepaid
card program management business of Travelex (now
called Access Prepaid Worldwide); and our investment in
mFoundry, considered the most popular mobile banking
solution in the U.S.
As we strengthen our business, we remain mindful
of the Durbin Amendment and its potential impact on
us and our U.S. customers. As issuers and merchants
comply with the Federal Reserve rules, we’re confident
that our superior PIN debit offering will result in more
U.S. debit cards with our mark on them and new
opportunities to grow our debit business.
The Power of Innovation
Innovation is our focus—period. We’re building financial
inclusion and revolutionizing the way people pay, whether
by using our traditional cards, our Tap & Go™ PayPass
technology or mobile devices.
In 2011, we forged many strategic partnerships to
further drive innovation, including: Intel to secure online
payments; Isis to help foster increased usage of near
field communications (NFC) for mobile payments; and
Google, Sprint, Orange and Samsung Card to drive
commercialization in mobile.
Dear Stockholders: On all fronts 2011 was a good year for MasterCard.
We delivered strong  nancial results, including net revenue and earnings per
share growth, as well as solid operational performance, with annual gross
dollar volume, cross-border volume and processed transaction growth rates
in the mid- to high-teens. These results are especially gratifying considering
how economic uncertainty prevailed throughout the year. Also satisfying is
the fact that we are off to an excellent start against our 2011–2013 long-term
nancial performance objectives.