Mastercard is looking to enhance its investments in sports sponsorship in India. It is already in talks with some local sporting events that could see the brand getting fresh set of wings.
“We see certain type of sports that enable us to have that conversation with consumers,” Vice President Marketing, Asia Pacific Sam Ahmed told Financial Express.
Mastercard is looking for more sporting action since it has limited brand association with golf and football in India.
Ahmed believes that Mastercard could introduce new payment technology to connect closely with consumers. He said that India was going through a massive digital change and it was time to link sports, entertainment and technology.
For the Australian Open, Mastercard was also the official payment partner this year. It tested the waters at the Australian Open by introducing a new payments facility for ordering food and drinks online. In doing so, the payments giant tasted success that it may now be looking for expand.
Mastercard and Visa have enjoyed a strong presence in the premium market for payment solutions in India. The introduction of Rupay, a consortium of Indian banks, had made a dent in the stranglehold that the two enjoyed. Digital payment opportunities has again presented an opportunity for the new players to disrupt the market.
Mastercard is hoping it can stay ahead of the race with strong branding with sporting event. Such events often see strong impulse purchases by the use of smartphone and other digital payment systems, which it hopes to encash.