MasterCard 2012 Annual Report Download - page 4

loyalty space, allowing us to deliver highly
personalized and relevant offers to consumers.
Since we launched Priceless Cities® in 2011, we have
expanded the program to more than 20 cities around
the globe, enabling our cardholders—from New York
to Singapore, and from London to Rio—to enjoy
exclusive experiences.
PARTICIPATING IN THE GLOBAL ECONOMY
We believe that whether you’re a consumer, a merchant
or a government, participating in the global economy
shouldn’t be confined by your postal code or country
code—and that by creating opportunities not just for
the few but the many, we can do well and do good.
That’s why we’re partnering with the UN’s
World Food Programme, where together we’re
revolutionizing food assistance delivery to the world’s
most vulnerable populations through electronic
vouchers and other methods we call digital food.
In South Africa, the government is on track to
exceed its target of 11 million, or one in five citizens,
who receive their social benefits on a MasterCard
debit card. What began as a disbursement tool
has become a real finance solution for a population
with limited or no access to banks.
And last year, MasterCard became the first international
payments network to issue a license to a domestic
bank in Myanmar and the first to be accepted at
an ATM in the city of Yangon, helping a country
to integrate further with the global economy.
OUR NETWORK AND OUR PEOPLE
MasterCard has always been at the intersection of
technology and people. With our state-of-the-art
network, we are in prime position to rollout the next
generation of products and services—be it the EMV
migration in the U.S., data analytics for merchants or
the advancement of mobile wallets. And we maintain
a processing performance of 130 milliseconds per
transaction, two times faster than the blink of an eye
and nearly four times faster than our biggest competitor.
Reaching more than 210 countries and territories,
our employees are achieving our vision and delivering
on our mission. We have deep roots in communities
all over the world, and we believe it’s important to
give back in the areas where we live and do business.
To us, it’s simple: Living our values and service to
the community go hand in hand. That’s why we’ve
partnered with organizations such as Grameen
Foundation, the Network for Teaching Entrepreneurship,
Pro Mujer and The Prince’s Trust, among others.
OUR JOURNEY CONTINUES
Knowing that more than 2.6 billion people around the
world live on less than $2 per day, we take great pride in
the fact that several years ago we created a foundation
focused on enabling people to realize their potential
and lift themselves out of poverty through access to
microfinance and youth education programs. This
independent foundation, through collaboration with
partner organizations in 49 countries, is creating
opportunities for 4.7 million people to participate in
the global economy. The foundation has committed
hundreds of millions to projects since its inception and
recently launched a scholars program, which is a $500
million initiative, giving talented, yet economically
disadvantaged young people in developing countries
access to secondary and university education.
When we look at our business, we’re mindful that
while there’s a person behind every transaction,
there’s a person on the other end who’s benefitting
from what we do. For example, a mother in Egypt
who no longer has to run across town to pay various
utility bills; a retailer in Canada who has found a
smarter way to reward her loyal customers; a street
vendor in Brazil who no longer misses the sales
from clients who don’t have local currency; and a
government entity which distributes social benefits
to the right hands.
What they have in common is the lives made easier for
buyers and sellers in an open economy, and lives made
better because of the convergence of the physical
and the digital worlds. What they have in common is
MasterCard and our journey towards a world beyond
cash—where the ease of everyday payments makes a
better, more connected future for everyone.
We want to recognize the more than 7,500 MasterCard
employees for the dedication they bring to their work.
Every day, our people make a difference, and we thank
them for their contributions. Finally, we extend our
appreciation to our stockholders. You have our
commitment to strive to return long-term value
on the investment you have entrusted to us.
Richard Haythornthwaite
Chairman of the Board of Directors
Ajay Banga
President and Chief Executive Officer