Newfound MLC Yield Fund
The Story
Openloop signed a Master Service Agreement with Mastercard Asia Pacific to support them in developing and managing their cross-border marketing programs.
The Challenge
Mastercard wanted to launch its global travel rewards program in Asia, covering multiple destinations popular amongst tourists. They need to sign up at least 5 top merchants in Korea, Hong Kong and Macau to launch those destinations. They also need to add new merchants in Japan, Hawaii, China and Singapore to increase participation numbers in those destinations. Unfortunately, they do not have relationships with the target merchants in those destinations.
The Solution
Mastercard appointed Openloop to solicit merchants on their target list to participate in their travel rewards program.
The Results
Openloop activated the local teams in Korea, Japan, Hong Kong, Hawaii and Singapore to engage with the target merchants and successfully signed 74 merchants across 7 destinations to participate in Mastercard Travel Rewards program:
| Korea | 31 |
| Hongkong | 18 |
| Macau | 18 |
| Japan | 3 |
| Hawaii | 2 |
| China | 1 |
| Singapore | 1 |
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