Mastercard Incorporated - MA STOCK NEWS

Mastercard's latest report, Recovery Insights: Ready for Takeoff?, reveals key travel trends as the industry struggles to recover from the pandemic. Notably, one-fifth of the countries studied have achieved over 90% of pre-pandemic domestic flight bookings. Global gasoline spending has risen by 13% since 2019, indicating a growing demand for road trips. While air travel still lags globally, some markets like the U.S. show promising signs of recovery. The report highlights shifts in consumer spending, particularly in leisure travel, fueled by pent-up savings and economic stimulus.

Mastercard Incorporated (NYSE:MA) held its annual stockholders' meeting, where several key decisions were made. The election of all 14 directors for a one-year term was confirmed. Additionally, stockholders approved the advisory compensation for executive officers and ratified PricewaterhouseCoopers, LLP as the independent accounting firm for 2021. Significant amendments included the approval of the Long-Term Incentive Plan and changes to the corporate charter that eliminated supermajority voting requirements. Final voting results will be filed with the SEC.

Bilt Rewards and Mastercard have launched the Bilt Mastercard, a co-branded credit card allowing U.S. renters to pay rent without fees while earning rewards points. This innovative card eliminates transaction fees and includes a digital payment experience for renters. It also offers credit-building opportunities through on-time rent payments, with automatic reporting to credit bureaus. Cardholders can earn 2x points on eligible transactions and redeem them for travel, fitness classes, or future home down payments. The program initially targets over 2 million rental units across the U.S.

Mastercard Incorporated (NYSE: MA) has declared a quarterly cash dividend of 44 cents per share. This dividend will be payable on August 9, 2021 to stockholders of record as of July 9, 2021. The company aims to support an inclusive, digital economy while engaging in sustainable practices across over 210 countries. Mastercard's commitment to delivering secure payment solutions and fostering partnerships underscores its focus on innovation and community impact.

A consortium formed by America’s SBDC, Intuit, Mastercard, Thryv, and others launched “Launchpad America” to support entrepreneurs in post-pandemic recovery. The initiative aims to provide essential resources, mentorship, and free tools for startup success, addressing the challenge of high failure rates in new businesses. The program includes a Startup Guide and a Starter Kit with access to services from coalition partners. This effort reflects a growing trend of new business applications at the fastest pace since 2007, highlighting the importance of small businesses in economic recovery.

Mastercard (NYSE: MA) has finalized its acquisition of Ekata, an identity verification service provider, enhancing its digital identity and fraud prevention efforts. Ajay Bhalla, President of Cyber and Intelligence at Mastercard, emphasized the commitment to integrate teams and advance identity capabilities to ensure secure online interactions. This acquisition aims to assist businesses in identifying customers accurately while advocating for data privacy and security. The move underscores the importance of creating trust in an increasingly digital world.

Mastercard is expanding its True Name^® card feature globally, starting with partners in Europe and North America. Global Payments is implementing this feature for TSYS issuer customers, enabling individuals to display their preferred names on cards. Notable partners include bunq and Monzo in Europe and BM Technologies and Republic Bank in North America. True Name aims to foster inclusivity, especially for the LGBTQIA+ community, reducing negative experiences related to misidentification. The program has no additional compliance requirements, making it easier for issuers to adopt.