Mastercard cardholders spending in Great Singapore Sale up 4.9%

US$709.6 million were spent on the first month.

In a release by MasterCard, its cardholders spent US$709.6 million in the first month of the Great Singapore Sale (28 May - 23 June 2012), maintaining the buoyant spend achieved during the same period last year (27 May - 25 June 2011), with an increase of 4.9%. Overall, the number of transactions rose 15.4% to 5,449,066 this year.

Here's more from MasterCard:

Spend by Singapore-based MasterCard cardholders holds steady with a 4.5% increase to US$470.6 million, while transactions increased by 15% to 4,244,567. The number of MasterCard PayPass transactions grew by 42 times and total spend jumped by over 600%. This great growth in PayPass transactions not only showcases MasterCard’s efforts in bringing payment innovation closer to the lives of consumers but also that contactless payments are gradually being accepted by consumers in Singapore.

The top category of spend for Singapore-based MasterCard cardholders over the first month of the Sale remains Eating Places and Restaurants. Singapore-based MasterCard cardholders spent US$30.6 million dining out in the first month of the Sale. The number of transactions at Eating Places and Restaurants was also up 10% from the same period last year at 443,916.

Meanwhile, tourists have also upheld their spending during this first month of the GSS 2012, purchasing US$238.9 million worth of goods and services, an increase of 5.6% as compared to the same period last year.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia