However, Rajamannar has a winning formula that helps push his team’s experiments and drives a culture of experimentation within the wider business.

“We set aside a very small percentage of a marketing budget for crazy innovation,” he said. “For marketing that thinks outside of the box and pushes boundaries. Within that context, people are more willing to experiment because the [budget] is so small and declared in advance.”

Showcasing measurable success from previous investments also helps. Five years ago, when the brand famously removed its name from its logo, Rajamannar recalls then-CEO Ajay Banga being “appalled” at the initial suggestion.

“But the board understood it, we got the backing, and it was high-risk,” he said, adding that the move ultimately paid off, with 84% of consumers now recognizing the branding sans text.

His biggest learning from Mastercard’s early experiments in haptic?

“Customers have so many minuscule anxieties and uncertainties, but they all add up. When you address even the tiny little bit of that uncertainty, the amount of return you get in favor of your brand is awesome,” he concluded.