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MasterCard International Markets President Ann Cairns on the company’s new electronic transaction system.
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But let's move on the Al mobile -- congress is kicking off in Barcelona and the top priority for many companies.
Mobile payments can hear a lot about it if you haven't already has companies encourage customers.
Throw away the plastic -- the -- by the way unveiling its new.
Digital payment system -- the -- Monster possibly saving and joining us now the first on Fox Business interview with and cans must -- president of international markets and thank you so much for being here.
I guess the key is speed and convenience when it comes to paying.
You confident you have this new program -- the past what does it do what does -- enable the consumer to do.
Thought up basically actually it brings together completely seamless shopping experience so it doesn't matter -- you do something on your phone -- compute.
-- on iPod only are actually checked him out at a checkout who stole right it's going to be all the same experience so it's really something that comes he -- -- going to love and feel -- very different how does it work.
It basically -- -- bringing together -- Aniston wants space is not mobile's comments it's not -- comments rights just basically using -- to cause very sick here that could face and -- -- you know wearing 216.
Countries in the -- now.
And bring an all -- safety and security to the fingertips at the coliseum and -- at the bail.
Well you mentioned security which is -- -- -- because we've had so many -- -- almost daily now of sites being hacked.
How do you go about making sure to you'll.
Customers that their information -- floating around in the sky and and in the air around us is safe.
Well it's safe because -- multiple levels of security across the net flicks across the devices.
And you know people have said well is is it going to be mall secure online model -- -- the same misusing a piece of plastic and the answer is.
Well yes it's classic kid because he's gonna hop pin numbers in that you can do all -- authentication YouTube today.
An I don't know about you but -- you know by suddenly lose my phone nine know within minutes yet and probably much Boston and you know full of this thing through that you mainly -- and you know the key thing is that comes humans today still 85%.
The wells transactions had done by -- cut.
And that includes -- and please check and really that's not a very secure way to pay.
-- still write checks.
-- they really do a lot clearer in America that is so bad thing but you know if you go out since they matching markets to go to place says you know like Africa that -- Eric Koch is up in the nineties and move on to big.
-- across Russia aren't so the -- via Ott and have low while common -- no allowance to replace -- I'm actually create financial inclusion.
So what about the merchants -- what kind of cost of they face to adapt to this type of technology.
It's not a huge cost I mean obviously there is infrastructure costs to rollout you know the right infrastructure to actually how capabilities in stores but now mentioned southern and really be -- benefit by being able to tall and -- -- as you know you can -- coupons at the point of sale.
It's going to be a very different experience.
Interest in -- now 60% of Mastercard's revenue comes.
Outside of the United States where he's seeing the most growth you mentioned a couple of countries in Africa and Russia but what I'm saying that the fact this growth well with same fantastic growth across Asia -- of course you know you'd expect China to be growing very quickly and money -- -- that was CN.
Huge growth in Africa because we've Nile opened up in the sub Sahara an area.
-- and and -- -- also seeing you know Brazil powering on Brazil is actually the largest country for all business outside America.
You mentioned the China is the Russia's and some of these kind of inaccessible places have you reach potential customers.
How do you get out there how.
Well obviously we went through all the -- -- -- went through that people like the post office in Russia and it's kind of -- grounding also -- different places.
And obviously -- -- and boat by brings a whole new space to Russia because in Russia you've got people still.
Queuing up in the street to pay that utility bills and believe -- of -- minus 23 outside you don't wanna be doing not so they.
Out offensive mobile's call less is really gonna change like that right and -- sorting out of time thank you so much for being here must become an international markets present very -- -- Thank you so much all right.
