MasterCard and its credit card rivals can maintain their edge over insurgent payment systems only if they keep their focus on the consumer rather than what they can get out of the consumer.
Raja Rajamannar, Global CMO of MasterCard, spoke early last month at the Skift Global Forum.
Rajamannar is chief marketing officer (CMO) for MasterCard where he overseas advertising, sponsorships, promotions, research, insights, and digital and consumer marketing initiatives across the globe.
Rajamannar noted travel and payment trends — such as cities as destinations and fewer vacations — that MasterCard has gleaned based upon user behavior data.
“We have seen the rapid decline of cash in travel because travel has become concentrated more and more towards cities,” Rajamannar told the audience. “What’s happening this is changing the dynamic of where and how transactions are happening.”
Rajamannar discussed seamless and cashless travel with Carmen Rita Wong, the President and Founder of Malecon Productions. Their conversation is in full, below.
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Photo credit: Carmen Rita Wong (R) interviewing Raja Rajamannar, Global CMO of MasterCard, at the Skift Global Forum in New York City on October 9, 2014. Skift