Mastercard redefines affluence for Asia Pacific

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By 2017-01-11

Mastercard has refreshed its Affluent platform in the Asia Pacific, with an elevated suite of premium dining and travel rewards and services. Available exclusively for Platinum, World and World Elite Mastercard consumer credit cardholders in the region, Mastercard now provides enhanced value, catering to the evolving desires of Asia Pacific's burgeoning affluent population.
An international hub of enriching cultures, experiences and opportunities, Asia Pacific's state-of-the art business facilities and iconic travel destinations make it the perfect place for affluent consumers to live, work and play. According to the Mastercard Global Destinations Cities Index, half of the world's top destination cities are in the Asia Pacific, making it a prime stop for relaxing holidays, exciting events and global business.

With consistent economic growth and rising spending power, Asia Pacific's Affluent consumers are exerting greater influence on global commerce directives and marketing efforts than ever before. By 2020, Asia Pacific will have the largest population of High Net Worth Individuals (HNWI), with an expected annual growth rate of 10.3% in 2017 . In 2015, Asia Pacific surpassed North America as the region with the highest HNWI wealth of US$ 17.4 trillion .

These shifts have re-defined lifestyles and spending priorities of Asia Pacific's affluent consumers. According toMastercard Head Consumer Credit, Asia Pacific,Jenn Ong, Asia Pacific's affluent consumers are sophisticated and discerning, preferring experiential luxury over material possessions.

"Growing in affluence and influence, Asia Pacific's consumers are shaping the notion of what luxury means today. Our insights, mined from card spend, travel patterns and consumer journeys, give us a deep understanding into the affluent consumer and their passions", said Ong.

"Our latest research found that social activities, such as overseas holidays and fine dining with loved ones are some of the key priorities among consumers in the region. These learnings are especially crucial as we build compelling offers, as part of our commitment to provide cardholders with superior value," she said.

As part of the refresh, Mastercard's revitalized program ushers in a comprehensive suite of benefits around its core consumer passion pillars: Travel, Dining and Peace of Mind. Whether it's residing at one of Asia Pacific's most luxurious properties,savouring a curated dinner or recharging in the comfort of a private lounge, Mastercard's refreshed programme provides cardholders with an elevated level of convenience and luxury and connects them to the most priceless entity with quality time.

The renewed offer platform has launched across Asia Pacific, comprising a wide range of benefits are available for Mastercard Platinum, World and World Elite cardholders across the following pillars:

Travel
n Luxury Hotels & Resorts Privileges: Consolidating a collection of the finest hotels and resorts across the world, cardholders can enjoy exclusive benefits at some of the world's pinnacle luxury properties.
n LoungeKey™: Enabled by the largest and most secure network with over 800 airport lounges in more than 300 cities in over 120 countries, cardholders enjoy complimentary membership to airport lounges with a single swipe on their World or World Elite Mastercard .

n Destination Limo: World and World Elite cardholders can enjoy preferential rates for chauffeured limousine at selected airports globally.
n Global Wi-Fi Access: World Elite cardholders have access to complimentary unlimited Wi-Fi at more than 1 million Wi-Fi hotspots around the world, including inflight access.

Dining
n Mastercard Epicurean Experiences: World and World Elite cardholders can now enjoy priority reservations and exclusively curated seasonal menus by avant-garde visionaries and Michelin-starred chefs at 20 top restaurants globally.
n Kids Dining Perks: Together with InterContinental® Hotels and Resorts, Mastercard cardholders are entitled to complimentary dining for kids aged 12 years and below with every paying adult across 26 participating restaurants in Asia and Australasia.
n Mastercard Wine Privileges: Receive a complimentary bottle of wine when dining at more than 100 participating restaurants across China, Hong Kong and Singapore, with a minimum spend.

Peace of Mind
n E-commerce Protection: Cardholders are automatically protected for eligible online purchases made with their Mastercard.
n Wallet Protection: World and World Elite cardholders are covered against costs associated with replacing their lost or stolen wallets and the items inside it.

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