MasterCard Sees More Opportunities in China

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Last updated at: (Beijing Time) Thursday, March 14, 2002

MasterCard Sees More Opportunities in China

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A senior executive officer from MasterCard International pledged the credit card network's continued commitment in further developing its business in China at its annual meeting for the Asia-Pacific region held here Wednesday.

Andre Sekulic, MasterCard's Asia-Pacific chief, said that MasterCard sees more business opportunities since China's accession to the World Trade Organization.

The meeting this year was the largest in scale of MasterCard's Asia-Pacific meetings, and brought together over 1,200 representatives from leading banks and technology firms in the region.

As China is the fastest-growing area for Mastercard, the network plans to offer a series of new services and products, with closer cooperation with its member banks in China, according to MasterCard officials.

Over one billion people hold Mastercards worldwide, with card transactions worth 857 billion U.S. in 2000. MasterCard is acceptable at some 366,000 shops in China.

MasterCard released at Wednesday's meeting its forecast for the global trend of the credit card payment industry. The participants also discussed hot topics such as credit business via the Internet and other mobile telecommunications means.

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