Ajay Banga Reveals MasterCard’s Biggest Priority

By  |  September 16, 2011
 | 

Personal consumption expenditures around the world tend to have a secular growth rate between of 5 or 6 percentage points a year, said MasterCard CEO Ajay Banga. While he feels this scenario presents an “enormous opportunity” for MasterCard, he elaborated on another trend he felt troubled by:

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “Eighty-five percent of transactions are conducted in cash or checks,” he said. “Only 15 percent today are in electronic forms of commerce, and it’s those electronic forms of commerce that we’re focused on trying to grow.”

    Banga went on to stress that MasterCard’s goal is not just to gain market share within the 15 percent that exists today but to get a bigger piece of the total transaction pie. Watch below for more of Banga’s remarks on how he feels this might be accomplished:

    NEXT: “Taking the Paper Out of Payments” – Reflections from Gary Flood, President of Global Products and Solutions →