Welcome to our dedicated page for Mastercard Incorporated news (Ticker: MA), a resource for investors and traders seeking the latest updates and insights on Mastercard Incorporated stock.
Mastercard Incorporated (NYSE: MA), headquartered in Purchase, New York, is the second-largest payment-processing corporation in the world. Mastercard offers a broad range of financial services, processing close to $9 trillion in transaction volume in 2023. Operating in over 200 countries and handling transactions in more than 150 currencies, Mastercard connects consumers, financial institutions, merchants, governments, and businesses worldwide, enabling secure, seamless, and fast payments.
Mastercard's core business revolves around payment processing, providing innovative payment solutions and technologies that include credit, debit, prepaid, and commercial cards. The company is also invested in driving financial inclusion and digital economy growth, demonstrated by initiatives like the Mastercard Center for Inclusive Growth and the Mobilizing Access to the Digital Economy (MADE) Alliance: Africa, which aims to extend digital access to 100 million individuals and businesses in Africa over the next decade.
Recent news highlights the impact of Mastercard's social and economic initiatives. For instance, the Mastercard Center for Inclusive Growth supported the (Re)building Ukrainian Business program, helping Ukrainian women entrepreneurs who fled the war to start new ventures in Poland. This program provided legal, business, and financial support and free childcare, which was crucial for these women to focus on their businesses.
On the financial front, Mastercard also launched the Mastercard Foundation Asset Management (MFAM) Corporation to manage and diversify the investment portfolio of the Mastercard Foundation. This organization aims to support the foundation's mission of advancing education and financial inclusion for young people in Africa and Indigenous youth in Canada, ensuring long-term philanthropic success.
Key products and services offered by Mastercard include the Mastercard Network, which powers global payments, and various digital payment solutions like contactless payments, mobile payments, and digital wallets. Additionally, Mastercard collaborates with governments and other organizations to develop and implement policies that enhance access to financial services, driving economic growth and innovation.
Mastercard's commitment to creating a sustainable and inclusive digital economy is evident in its strategic partnerships and continuous investment in technology and infrastructure. By leveraging secure data, robust networks, and strong partnerships, Mastercard aims to deliver safe, simple, smart, and accessible transaction experiences for its users globally.
Ellen Jackowski, Chief Sustainability Officer at Mastercard, is leading the integration of the company's Environmental, Social and Governance (ESG) strategy. Her role includes driving climate leadership initiatives, such as Mastercard's commitment to reach net-zero emissions by 2040 and accelerating the impact of programs like the Priceless Planet Coalition.
Mastercard's ESG efforts, established over a decade ago, are founded on the principle of doing well by doing good. This approach aims to create genuine impact and enable both people and the planet to thrive. Jackowski's work aligns with Mastercard's long-standing commitment to sustainability and responsible business practices.
Expedia Group, Wells Fargo, and Mastercard have announced a multi-year partnership to launch two new co-branded credit cards: the One Key™ Card and One Key+™ Card. These cards are designed to enhance Expedia Group's One Key™ loyalty program by offering rewards, tier upgrades, and travel perks. Cardholders can earn OneKeyCash™, which can be used for bookings on Expedia, Hotels.com, and Vrbo. The One Key Card offers $400 in OneKeyCash for a $1,000 spend in three months, while the One Key+ Card offers $600 for a $3,000 spend. Both cards provide instant tier upgrades, travel protections, and no foreign transaction fees. The cards will be available later this summer, with existing Hotels.com cardholders transitioning to the no-annual-fee One Key Card in September.
Expedia Group has partnered with Wells Fargo and Mastercard to launch two new co-branded credit cards: One Key Card and One Key+ Card. These cards are designed to enhance Expedia's One Key loyalty program, offering U.S. travelers increased flexibility, savings, and perks.
The One Key Cards will allow users to earn OneKeyCash rewards, which can be used across Expedia, Hotels.com, and Vrbo for booking hotels, vacation rentals, car rentals, activities, and flights.
One Key+ Card holders will enjoy benefits such as earning $600 in OneKeyCash after spending $3,000 in the first three months, earning 3% in OneKeyCash on various purchases, and an annual fee of $99. One Key Card holders can earn $400 in OneKeyCash after spending $1,000 in the first three months, also earning 3% on similar purchases but with no annual fee.
Both cards offer tier upgrades, with One Key+ Card holders achieving Gold tier benefits and One Key Card holders reaching Silver tier benefits.
Applications for the new cards will start nationwide later this summer, with existing Hotels.com cardholders transitioning to the new program by September.
Mastercard (NYSE: MA) will release its second quarter 2024 financial results on Wednesday, July 31, 2024. The company will host a conference call at 9:00 a.m. Eastern Time to discuss the results, which will be available on their investor website. Investors can access the conference call via toll-free or toll dial-ins, using the provided conference ID. A replay and webcast of the call will also be accessible for 30 days.
During London Climate Action Week 2024, Mastercard emphasized the critical role organizations play in promoting a sustainable economy. Cities, as highlighted by Wayne Hubbard of ReLondon and Mayor Sadiq Khan, are pivotal in driving the circular economy, offering economic and job opportunities. Consumers are eager for sustainable options, and companies like IKEA and Vivobarefoot are introducing eco-friendly products and services. Collective engagement through initiatives like Pledgeball and the Priceless Planet Coalition demonstrates significant potential for impactful climate action.
Ant Group and Mastercard, alongside 12 payment partners from Alipay+, expand the International Consumer Friendly Zones program to Chengdu and Chongqing. This program, already successful in Beijing, Guangzhou, and Shanghai, aims to enhance the digital payment experience for international travelers in China. Chengdu and Chongqing have become top inbound tourism destinations, with substantial increases in foreign national entries and exits. Supported by local governments, the program will cover over 60 primary shopping areas, tourist spots, airports, and high-speed railway stations in both cities.
Ant Group's Alipay+ supports 12 leading e-wallets across an 80-million-merchant network in China, allowing international visitors to use their home e-wallets. Additionally, international bank cards can be linked to the Alipay app for a seamless payment experience. The program's expansion responds to the anticipated growth in inbound travel, which the China Tourism Academy expects to reach 80% of pre-pandemic levels in 2024.
A new study by the Capital One Insights Center with Mastercard analyzed consumer spending trends at small businesses in Richmond, VA, from 2019 to 2023.
The findings reveal that since a 20% dip in 2020, small businesses have recovered strongly, with spending at these businesses increasing by 75% relative to 2019.
Key growth areas include the Manchester District, where small businesses grew by 41%, and Downtown Richmond, where consumer spending rose by nearly 50% from 2019 to 2022.
The study also highlighted significant efforts in supporting minority-owned businesses and the positive impact of the Richmond 300 plan in promoting small business activities in designated growth nodes.
Overall, the gap in spend growth between small and non-small businesses has narrowed from 120% in 2020 to just over 30% in 2023.
Mastercard has been honored as one of the World's Most Sustainable Companies 2024 by TIME, as announced on June 25, 2024. The recognition is the result of a thorough research study conducted by Statista. Mastercard's commitment to sustainability includes driving toward net zero emissions and supporting the transition to a low-carbon economy. This acknowledgment highlights Mastercard's ongoing efforts to ensure both people and the planet can thrive.
Mastercard (NYSE:MA) announced the preliminary results of its annual meeting of stockholders. Twelve directors were elected for one-year terms. Shareholders approved the executive officers' compensation on an advisory basis and ratified PricewaterhouseCoopers as the independent auditor for 2024. None of the five stockholder proposals were approved. Final voting results will be filed with the SEC on a Form 8-K and posted on Mastercard's Investor Relations website.
Mastercard's Board of Directors has declared a quarterly cash dividend of 66 cents per share. The dividend is payable on August 9, 2024, to all holders of record of its Class A and Class B common stock as of July 9, 2024.
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