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MasterCard Reports High Double-Digit E-Processing Growth in APMEA

Search ASIA Travel Tips .com Latest Travel News Send to Friend Wednesday, 11 February 2009

MasterCard has reported that, in the Asia Pacific, Middle East and Africa (APMEA) region, the number of  transactions processed through its e-commerce platform – the MasterCard Gateway Service (MiGS) – surpassed the 100 million mark, posting a 71.1% increase year-on-year. In terms of gross dollar volume (in US$), these transactions represented a corresponding 53% increase.

The APMEA region is the most vibrant for MasterCard in terms of the usage of MiGS, which processes what are commonly referred to as Card-Not-Present (CNP) transactions, including e-commerce, m-commerce, telephone and mail order transactions as well as electronic bill payments.

More than 100 key customer financial institutions across the region are already active users of MiGS. As are the more than 10,500 merchants – including some of the best known brands and ranging from airlines, travel agencies, satellite and cable TV companies, telecommunication companies, insurance and government services – who are currently on the platform.

“As e-commerce gains momentum across APMEA, merchants and financial institutions need a secure, convenient and robust payment solution. Besides fulfilling this need, MiGS also provides merchants with valuable tools for day-to-day management of their e-commerce transactions and reduces operating costs for the banks. This value proposition has been a key driver in the growth that we have seen for MiGS in the region through 2008,” said Shuan Ghaidan, Group Head Customer Delivery, APMEA, MasterCard Worldwide.

 MasterCard also recently acquired software solutions provider Orbiscom Ltd. The acquisition builds on the original partnership between the companies that led to the creation of MasterCard inControl – a payment platform featuring an array of advanced authorization, transaction routing and alert controls designed to assist financial institutions in creating new and enhanced payment offerings.

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