Boston, MA 06/13/2014 (wallstreetpr) – Second largest debit and credit card Company MasterCard Inc. (NYSE:MA), anticipates booming business from the sale of data to retailers, banks and governments, as a result, of spending pattern already discovered in the payment processes. The company handles almost 2 billion cardholders and tens of millions of merchants of whom it has acquired information and generated real-time data on their trading trends
Growth In Sale Of Data
The sale of data is turning out to be a fast growing area for the company according to, Ann Cairns, head of MasterCard Inc. (NYSE:MA)’s business outside North America. Cairns stressed that the company respects its client’s privacy, and it uses anonymous data rather than personal information. The company does not give any figures on its information services’ product but “Other revenues”; in this case the sale of data was up by 22% in the first quarter to $341 million.
Retailers find it more useful to acquire data on their customers trading pattern that can essentially be used for better planning. The data also assist the retailers understand their inventory turnover. MasterCard Inc. (NYSE:MA) through the study of sales data has already recorded a spike in spending on groceries in Brazil followed by a drop in spending in luxury goods.
Growth in E-Commerce
MasterCard Inc. (NYSE:MA) continues to expand rapidly on big data according to madam Cairns, and there is no slowdown in the traditional business of processing payments. Expansion of e-Commerce, as well as emerging markets, has consistently driven growth in the company. Further growth is also highly expected as about 2.5 billion people are estimated not to have access to financial services.
There has been a growth in belief that many shoppers in developing countries will opt to do away with plastic cards and essentially go with direct payment made through smartphones. MasterCard Inc. (NYSE:MA) is still poised to grow from this segment by providing “digital wallet,” technology to retailers and banks.
