Mastercard Incorporated - MA STOCK NEWS

The Mastercard Artist Accelerator has been launched, utilizing Web3 technologies on the Polygon blockchain to connect emerging artists with mentors and fans. Kicking off in spring 2023, it will empower five selected artists with tools, skills, and access to navigate the digital economy. A unique curriculum will teach them about NFTs and community engagement. Additionally, a limited edition NFT, the Mastercard Music Pass, will offer fans exclusive educational resources and experiences. The program aims to create an interactive community and showcase artists through a livestream later in 2023.

Mastercard has highlighted the importance of diversity, equity, and inclusion (DEI) in business through various initiatives aimed at empowering marginalized communities. They are investing $500,000 to support Indigenous entrepreneurs in Canada via the Pow Wow Pitch competition. Additionally, Mastercard is scaling the HERfinance Digital Wages initiative in Egypt, enhancing women's financial independence. A $5 million grant to Howard University aims to address racial bias in AI. The company is committed to fostering greater innovation through diverse hiring practices, demonstrating that DEI is beneficial for business.

According to Mastercard SpendingPulse, U.S. retail sales excluding automotive increased 7.6% year-over-year during the holiday season from November 1 to December 24. Online sales rose 10.6%, comprising 21.6% of total retail sales, up from 20.9% in 2021. Black Friday remained the top spending day, increasing 12% YOY. In-person dining surged 15.1%, driven by a shift toward experiences. Despite inflation pressures, consumers adapted their spending, seeking deals and prioritizing gifts.

Mastercard and the U.S. International Development Finance Corporation (DFC) announced a partnership to enhance digital infrastructure in rural communities in Africa and India. The collaboration aims to mobilize up to $50 million for businesses within Mastercard's Community Pass platform, which seeks to improve access to financial services for underserved populations. Mastercard targets 15 million users in Africa and 30 million globally by 2027, focusing on financial inclusion and the digitization of agricultural value chains.

Marqeta (NASDAQ: MQ) has announced its integration with Mastercard (NYSE: MA) to launch Track Instant Pay in the U.S., becoming the first processor to offer this service. This innovative solution allows customers to authorize supplier payments immediately upon invoice receipt, eliminating manual approval delays. By reducing costs associated with traditional payment methods, Marqeta aims to enhance cash flow management for businesses. The integration leverages machine learning and automation to improve payment efficiency and security, avoiding the need to share sensitive bank information.

BMO has partnered with Extend, becoming the first organization in Canada to enhance Corporate Card offerings with virtual card capabilities. This collaboration enables rapid onboarding and customizable payment solutions for clients across North America. Extend's platform allows employees to manage vendor payments, track expenses, and automate reconciliation processes. Juniper Research anticipates a tripling of charge volume on virtual cards in four years, indicating the growing demand for such solutions. This move aligns with BMO's Digital First strategy to leverage emerging technologies for improved financial services.

Mastercard has declared a quarterly cash dividend of 57 cents per share, marking a 16% increase from the previous 49 cents. The dividend is payable on February 9, 2023, with a record date of January 9, 2023. Additionally, the Board approved a new share repurchase program of $9 billion, effective at the completion of the existing $8 billion program. As of December 1, 2022, approximately $4.1 billion remains in the current program.

Sabre Corporation (NASDAQ: SABR) has partnered with Mastercard to enhance virtual card usage for B2B travel payments, following its acquisition of Conferma Pay in August 2022. This collaboration aims to create an efficient travel payment ecosystem by addressing B2B payment challenges and improving tracking and reconciliation of payments. Mastercard will make a minority investment in Conferma Pay, which connects issuers to over 700 travel management companies. The integration aims to provide secure, automated payment solutions and foster innovation in travel payments.

The U.S. banking community has launched a 12-week proof of concept (PoC) aimed at exploring an interoperable digital money platform called the Regulated Liability Network (RLN). Utilizing distributed ledger technology, this initiative will test the feasibility of issuing digital tokens based on U.S. dollars and settling transactions via a shared ledger. Participating banks include major institutions like Mastercard, BNY Mellon, and Citi. The PoC will align with current regulations, maintain anti-money laundering protocols, and evaluate the potential for future multi-currency applications.