MasterCard International Inc.'s Philip Philliou is focused on making his company the top choice of executives when it comes to selecting e-commerce payment platforms.
To do that, Philliou is playing MasterCard’s marketing trump card—its 23,000 member banks, including giants Citigroup, Bank of America Corp. and Wells Fargo& Co. The banks, which license MasterCard’s cards, also market the company’s e-payment platforms to b-to-b clients and exchanges.
"Everything we do at MasterCard, we do through them," said Philliou, who is a lawyer by training with a juris doctorate degree from Fordham University. He joined MasterCard in 1999 from American Express Co., where he was director-strategy and marketing.
MasterCard’s approach is different from that of rival Visa, which develops its own e-commerce exchanges and helps member banks run their marketplaces. "Where our competitors have invested in their own marketplaces, we build products that allow customers to do business in whichever marketplace they choose to do business in," Philliou said.
Philliou said MasterCard is currently focusing on MasterCard SmartLink, software that integrates procurement information with enterprise resource planning systems.