MasterCard Incorporated recently announced a 49% increase in gross dollar volume for its Titanium card program in the Asia/Pacific, Middle East, and African region. This was for the second quarter of 2009, versus the same period in 2008.

The strong growth is testament to the growing popularity of the MasterCard Titanium card program across the region. A world's first in terms of its design with its ergonomic and streamlined curves, the card program boasts a host of unique benefits and services to complement the lifestyle of the trendy and hip target consumer.

The card program was first launched in November 2004, to meet the needs of customer financial institutions looking for a unique product for the upwardly mobile and financially confident consumer.

Singapore was the first market to launch the Titanium card, and the program has since been rolled out across 20 markets in the region. In addition to Singapore, there are now Titanium card programs in Bahrain, China, Hong Kong, Kuwait, Lebanon, Macau, Mauritius, New Zealand, Saudi Arabia, South Africa, Taiwan, Thailand, UAE, and in markets in the Southeast and South Asia region, including Indonesia, Malaysia, Philippines, Thailand, India, Pakistan, and Sri Lanka.

“The Titanium MasterCard card program has grown rapidly since its launch over five years ago, with the latest growth figures demonstrating that it continues to resonate with consumers,” said Ajay Bhalla, Executive Vice President, Southeast and South Asia, MasterCard Worldwide.

“We recognize that the consumption behavior of the young affluent is deeply intertwined with their sense of individual expression. The MasterCard Titanium card program, with its unique curved design and youth-oriented privileges, is designed to meet their evolving lifestyle aspirations.
Young urbanites in Southeast and South Asia are becoming increasingly sophisticated as their spending power grows. Our research shows that young affluent consumers in South East Asia are expected to have discretionary spending power of close to US$91 billion by 2016, and in India, US$78 billion. Much of this will be spent on dining out, entertainment, shopping and travel,” added Bhalla.