Asia Pacific remains an important market for Mastercard as the payments technology company ramps up its alliances with mobile network operators (MNOs) to expand their capabilities and future-proof their services.
“MNOs are evolving to be both tech companies and financial providers by integrating digital payment options such as mobile wallets and in-app purchases, with data insights that enable them to make smarter decisions. Mastercard sees great promise in partnering with MNOs to widen their pool of services so as to better serve existing consumers, gain new consumers and develop new business opportunities,” said Benjamin Gilbey, Senior Vice President, Digital Payments and Labs, Asia Pacific, Mastercard. “This is especially beneficial in Asia Pacific where many emerging markets are still largely underserved and unbanked while consumers in developed markets are demanding real-time access to quick and convenient payment experiences.”
To support MNOs in efforts to evolve their operations and become a more complete digital player, Mastercard has introduced a package of data-driven digital services that enable fast, simple and secure digital payment experiences across devices and channels. Mastercard is leveraging its analytic capabilities and innovations in areas such as artificial intelligence to empower mobile network operators to broaden their businesses in the following ways:
Harnessing Data Analytics and Insights – Mastercard is working with MNOs to make their data actionable and build the digital infrastructure that will deliver value and personalized experiences to consumers through faster, safer and more convenient services
Optimizing Core Business – MNOs can build on the company’s digital payments platform Masterpass to deliver a more seamless consumer experience with the acceptance of such payments
Diversifying Revenues – Mastercard’s suite of solutions and products like direct carrier billing and QR-based payments can help monetize existing telecommunications assets and expand their services
Across the Asia Pacific region, a number of Mastercard’s mobile solutions are already making a difference. In emerging market Vietnam, Mastercard’s collaboration with Military Bank, one of the country’s largest banks, enabled leading MNO Viettel Telecom to offer more than three million consumers access to physical and virtual prepaid cards. Of those customers, 700,000 have requested a prepaid companion card to support every day spending. This empowers consumers – a number of whom were unbanked – to make person-to-person money transfers and payments for utility and airline bills.
In Taiwan, Mastercard worked with Chunghwa Telecom, the nation’s largest integrated telecommunications services company, to bring contactless payments to consumers with the digital “Hami Wallet”. Catering to the demands of the Taiwan’s burgeoning e-payments scene, the wallet brings convenience to consumers as their go-to payment pick for shopping, public transport and travel.
In Indonesia, the payments technology company, Indonesian Red Cross Society, and the American Red Cross leveraged Mastercard Send and local telecommunications partner Indosat Ooredoo to distribute funds to beneficiaries during times of need via their digital wallet, empowering them to spend their aid money on what they need most. Mastercard Send is a first-of-its-kind interoperable global platform that enables money transfers to be made securely and within seconds.
About Mastercard
Mastercard , www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.