MasterCard 2011 Annual Report Download - page 4

2MasterCard Annual Report 2011
We also formed joint ventures with Telefónica, moves
that will lead the development of mobile financial solutions
in markets throughout Latin America, allowing us to reach
more than 87 million Movistar customers and 65 million
Vivo customers.
In addition, we used and continue to use MasterCard
Labs to test ideas and to challenge our employees to create
new solutions. We also developed a roadmap to advance
the U.S. electronic payments system, beginning with a
migration to EMV chip technology. The roadmap focuses
on upgrading the infrastructure that will support the next
generation of products and services. These efforts will
enable consumers to shop and pay in a way that best fits
their needs with a simple tap, touch or click.
We believe that our initiatives, along with the intelligence
of our technology, data analytics and investments in
security, are propelling us toward a world beyond cash.
Our People and Social Responsibility
In local markets around the world, our employees are on
the ground applying their diverse insights and expertise
to capture new opportunities while delivering value to our
stakeholders. We’re proud of our people and thank them
for their contributions.
We’re also proud of our role as a good corporate citizen.
In fact, we’re committed to furthering financial inclusion
through entrepreneurship and, in 2011, partnered with
organizations like the Grameen Foundation, the Network
for Teaching Entrepreneurship and Junior Achievement,
just to name a few. At the same time, we focused on
empowering youth, particularly those most in need.
This is evident in our work with the Prince’s Trust in the
U.K. and the International Youth Foundation in India.
Social responsibility clearly permeates our culture, as
our employees are actively engaged in various
philanthropic causes.
In 2011, we also harnessed the power of our brand to
make a difference. Through our Eat, Drink and Be Generous
campaign, consumers and restaurants helped us raise
$4 million for Stand Up To Cancer by using their
MasterCard cards.
An Eye Toward the Future
Without question, there is an air of excitement throughout
our organization, driven by innovative thinking, new
partnerships, positive trends and an overall drive to win.
This spirit has only been heightened by the launch of
our vision, mission and values, which underscores our
commitment to delivering meaningful bene ts to
consumers, merchants, business partners, governments
and communities throughout the world.
As a technology company that’s a key player in the
payments industry, we’re leveraging our technology and
expertise to bene t people of all demographics—from
the underserved to the af uent—as well as governments
and businesses, large and small. Importantly, we are well
positioned to capture new opportunities and to continue
delivering value to our constituents as well as to you,
our stockholders.
With 85 percent of the world’s transactions still made
with cash and checks, there is plenty of room for us to grow
and for billions of people to bene t from our innovative
products and solutions. We have their best interests in mind
and  rmly believe that achieving our vision of a world
beyond cash will make payments safer, simpler and smarter.
To us, that’s priceless.
Richard Haythornthwaite
Chairman of the Board of Directors
Ajay Banga
President and Chief Executive Of cer