Tourism Malaysia and Mastercard Forge Groundbreaking Partnership to Elevate Travel Experience for Visit Malaysia 2026

Monday, March 11, 2024

Tourism Malaysia and Mastercard have unveiled a key partnership aimed at revolutionizing the travel experience and bolstering marketing efforts for Visit Malaysia (VM) 2026. This collaboration was highlighted at a Memorandum of Collaboration (MOC) exchange ceremony. As a critical aspect of this partnership, Mastercard will become Tourism Malaysia’s Exclusive Payment Partner, emphasizing the improvement of the retail experience for tourists.

This alliance will concentrate on four pivotal areas:

1. Utilizing data insights and analytics: Through Mastercard’s Data & Services hub in Kuala Lumpur, the partnership will leverage comprehensive data analytics to understand traveler spending behaviors, preferences, and needs, offering invaluable insights to enhance the tourism industry.
2. Transforming the traveler’s digital journey: The collaboration will lead to the creation of the Travel Malaysia app. This all-encompassing app will provide custom travel content and unique deals, supporting travelers from the planning stage to real-time, location-specific offers. The anticipated launch of the app is in 2025.
3. Crafting superior marketing initiatives: By tapping into Mastercard’s worldwide presence and marketing prowess, the initiative aims to develop captivating campaigns to attract additional travelers, with a goal of increasing visitor numbers by 8 million by 2026.
4. Offering unique Priceless Experiences: Mastercard will introduce its renowned Priceless program to the Malaysian market, providing travelers with exceptional offers and experiences tailored to showcase Malaysia’s allure as a comprehensive destination for dining, entertainment, shopping, and accommodation.

YB Khairul Firdaus Akbar Khan, Deputy Minister of Tourism, Arts, and Culture, expressed enthusiasm for the partnership and its potential long-term impact on the travel and tourism sector and stated: “The esteemed partnership with Mastercard highlights our commitment to harness technology to create a more seamless and innovative travel experience in Malaysia. By using data and insights, we aim to improve visitor satisfaction and continuously innovate to engage with travelers. This collaboration is a significant step towards digitizing Malaysia’s travel and tourism sector, providing a hassle-free and enriched experience for visitors exploring our diverse offerings.”

“In 2023, Malaysia welcomed 20.14 million visitors, with tourism receipts reaching RM71.3 billion. Shopping activities constituted 33.9% of total expenditure, contributing to a remarkable RM24.1 billion. With a focus on the shopping segment, we aim to leverage our collaboration with Mastercard to create distinctive experiences, positioning Malaysia as a premier global shopping destination,” said Mr. Manoharan Periasamy, Director General of Tourism Malaysia.

“Mastercard is thrilled to partner with Tourism Malaysia in revitalizing and transforming the tourism sector. This strategic collaboration aims to digitize Malaysia’s growing travel industry and position the country as a digital-first destination. With Visit Malaysia 2026 approaching, Mastercard will leverage its global expertise, data insights, and engagement program, Priceless, to support Malaysia’s growth and enhance its appeal as a top travel destination in the Asia Pacific region,” said Mr. Safdar Khan, Division President, Southeast Asia, Mastercard.

This partnership, positioning Mastercard as the Exclusive Payment Partner, aims to augment the retail segment, a vital component of tourism growth. Leveraging Mastercard’s global reach and expertise, the initiative seeks to elevate Malaysia as a top shopping destination, enhancing the retail experience for tourists and offering unparalleled value through Mastercard’s Priceless program.

For the current year, Malaysia sets its sights on attracting 27.3 million international visitors and aims for over RM102.7 billion in tourism revenue. With VM 2026 on the horizon, the country aspires to welcome 35.6 million tourists, aiming for RM147.1 billion in receipts. These objectives are in line with Malaysia’s Tourism Strategy 2020-2030, focused on bolstering the nation’s appeal as a prime international travel destination.

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