MasterCard Cardholders Maintain Robust Spend During the First Month of the Great Singapore Sale 2012

Immense Growth in PayPassTM Transactions Reflects Greater Consumer Adoption of Contactless Payment Technology

Singapore, 13 July 2012MasterCard (http://newsroom.mastercard.com/) cardholders spent US$709.6 million in the first month of the Great Singapore Sale (28 May – 23 June 2012), maintaining the buoyant spend achieved during the same period last year (27 May – 25 June 2011), with an increase of 4.9%. Overall, the number of transactions rose 15.4% to 5,449,066 this year.

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Spend by Singapore-based MasterCard cardholders holds steady with a 4.5% increase to US$470.6 million, while transactions increased by 15% to 4,244,567.

The number of MasterCard PayPass transactions grew by 42 times and total spend jumped by over 600%. This great growth in PayPass transactions not only showcases MasterCard’s efforts in bringing payment innovation closer to the lives of consumers but also that contactless payments are gradually being accepted by consumers in Singapore.

The top category of spend for Singapore-based MasterCard cardholders over the first month of the Sale remains Eating Places and Restaurants. Singapore-based MasterCard cardholders spent US$30.6 million dining out in the first month of the Sale. The number of transactions at Eating Places and Restaurants was also up 10% from the same period last year at 443,916.

Meanwhile, tourists have also upheld their spending during this first month of the GSS 2012, purchasing US$238.9 million worth of goods and services, an increase of 5.6% as compared to the same period last year.

Australian MasterCard cardholders emerged as top tourist shoppers during the first month of the Sale, spending US$33.2 million.  Notably, MasterCard cardholders from Japan increased their spending by 48.9% from a year ago, while those from Indonesia increased their transaction volume by 20.8% which translated to a 15.5% jump in spend, hitting US$22.4 million.

Dato’ Dr Jannie Chan, President, Singapore Retailers Association, said, “The first month results of the GSS this year has shown that despite the ever-changing global economic climate, spending in Singapore continues to be robust. This is very encouraging to retailers as while we are already in the nineteenth year of the Sale, the GSS continues to be a valued platform for consumers to enjoy the best deals.”

Julienne Loh, vice president and country manager, Singapore, MasterCard Worldwide said, “this GSS, MasterCard remains focused on being the best way to pay for everything that matters, and it is heartening that this has translated into healthy spending on our cards in the first month of the Sale. We are very happy to see that consumers are increasingly adopting contactless payments when they shop. The GSS encompasses more than retail therapy, and cardholders have a range of privileges to choose from – including dining or beauty and wellness. On top of these, cardholders are rewarded for spending on their MasterCard cards, and this year, we’ve even introduced the MasterCard Travel Crew to surprise cardholders spotted using MasterCard cards with priceless experiences.”

Top 5 markets in terms of tourist spending:

No. of transactions % change vs. corresponding period in 2011 Transaction Amount % change vs. corresponding period in 2011
Australia(3rd last year) 134,222 41.2% US $ 33.2 million 48.2%
United States(1st last year) 107,327 16.8% US $ 27.1 million -19.0%
Malaysia(2nd last year) 112,435 4.1% US$ 23.8 million -11.0%
Indonesia(4th last year) 105,256 20.8% US $ 22.3 million 15.5%
Japan(5th last year) 120,259 48.9% US $ 21.8 million 46.3%

MasterCard cardholders from United States and Japan spent the most at Eating Places and Restaurants, while Malaysian cardholders spent the most on Computers, Computer Peripheral Equipment and Software. Meanwhile, Australian and Indonesian cardholders preferred spending at Department Stores.

Top categories of spend by tourists from top 5 markets (excluding spend on accommodation and airfare):

Market and Category

No. of transactions Aggregate transaction amount
Australia – Department Stores 14,980 US$1.5 million
United States –  Eating Places and Restaurants 7,908 US$705,605
Malaysia – Computers, Computer Peripheral Equipment, Software 2,380 US$1.4 million
Indonesia – Department Stores 11,040 US$1.9 million
Japan – Eating Places and Restaurants 2,664 US$402,767

For more information on MasterCard’s GSS deals and initiatives, visit www.sales.mastercard.com/sg/.