Copenhagen, 30 August 2023 - Ambassador Leo Herrera-Lim met with the leadership of Mastercard Payment Services Denmark - CEO Lars Asger Petersen, Chair Susanne Brønnum-Hyttel, Legal Services Director Mikkel Larsen, and Mastercard Philippines Vice President Judith Dayrit. The meeting facilitated a comprehensive exchange of insights and ideas to foster synergistic partnerships.

CEO Petersen provided an in-depth overview of Mastercard's recent strategic expansions in Denmark, including its relocation to Ørestad in Copenhagen. Mastercard's newly established hub has close to 200 employees focused on the innovation and operation of cutting-edge payment solutions. He conveyed that Denmark's unique landscape of digital integration and compact market size positions it as an ideal site for pioneering payment solutions.

Ambassador Herrera-Lim highlighted the presence of major Danish corporations such as NNIT, Vestas, and Executive Travel, who have established backroom offices in the Philippines. The Ambassador encouraged Mastercard to explore the possibility of relocating non-core services to the Philippines, aiming to enhance its overall competitiveness.

The Ambassador also proposed a potential collaboration to optimize the payment collections for the Department of Foreign Affairs (DFA) and its Foreign Service Posts. The discussion centered around the need for a multi-currency payment platform equipped with real-time payment capabilities and automated reporting compliant with Philippine accounting standards.

Ambassador Herrera-Lim also shared insights into the Embassy's ongoing initiatives to elevate political and economic cooperation between the Philippines and Denmark.