How are the global payments companies, which built their legacy business on credit cards, growing in Asia?
Ari Sarker, president for Asia Pacific at Mastercard, tells Jame DiBiasio what opportunities are emerging for his industry. He discusses the economic outlook and managing the risks of deglobalization, along with the opportunities of e-commerce and digital economies in Asia.
He says debit now makes up as much business as credit cards, and describes how the firm is positioning itself to support financial inclusion, narrow the digital divide in societies, and find ways to drive new businesses.
- 0:00 – Ari Sarker, Mastercard
- 1:01 – Macro volatility and momentum in Asian economies
- 4:15 -Debit cards and wallets versus legacy credit card business
- 8:43 – Competition in new-economy payments and finance
- 11:53 – Asia’s digital leapfrog and tech’s role in meeting financial needs
- 15:21 – Narrowing the digital divide, boosting domestic growth
- 16:25 – Risks of deglobalization and the need for domestic partnerships
- 18:02 – Acquirer business, new revenues
- 20:22 – BNPL, crypto, and managing innovation and risk
- 24:39 – Tokenization in e-commerce and the future direction of digital payments