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SINGAPORE - Local 'it girl' Denise Keller has been recruited by MasterCard to front the latest incarnation of its long-running 'Priceless' campaign.

The campaign kicked off in Singapore in the run-up to the Singapore Fashion Festival, where the credit card giant was the headline sponsor.

The TV, print and outdoor push, created by McCann Erickson Hong Kong, aims to strengthen MasterCard's ties with modern Asian women.

In the commercial, Keller, a model, MTV presenter and MasterCard's 'fashion ambassador' is used to express the feelings women associate with fashion - confidence, freedom, comfort, glamour and indulgence. The spot shows Keller in a variety of poses, moods and outfits and concludes with the line, 'Wearing your heart on her sleeve: priceless.'

After breaking in Singapore the ads will run across Southeast Asia, then Asia-Pacific. "The team worked closely with top fashion photographer Timon Wehrli and director Tai Heng to produce a campaign that stands shoulder-to-shoulder with other fashion advertising," said Spencer Wong, regional creative head for MasterCard at McCann Erickson.

McCann's creative team included James Reeves, Steve Wong and Martin Lever.

"With an estimated US$516 billion of discretionary spending power at their command by 2014, female consumers in Asia are a force to be reckoned with," said Natalie Lockwood, group head, global marketing, Asia-Pacific, Middle East and Africa, MasterCard Worldwide.

Lockwood added that the biggest challenge for MasterCard this year was to replace cash and cheques with electronic payments. "Our biggest competitor is cash. But uptake in Asia is fast, and more cardholders believe that the credit card is the safest way to make purchases."

Although growth rates are high, credit card penetration in Asia remains low. Personal consumption through credit cards hangs at one per cent in India, three per cent in China, six per cent in Asia-Pacific, against a global average of nearly nine per cent.