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Executives from Mastercard conducted an earnings call for analysts representing prominent financial institutions to discuss the Q3 2024 results and address inquiries.
Mastercard disclosed its financial outcomes for Q3 2024. The call included analysts from companies such as JPMorgan, Oppenheimer, Deutsche Bank, Morgan Stanley, Barclays, Goldman Sachs, among others, during which Mastercard executives shared insights on key results and responded to questions.
Essential details:
- Mastercard reported a net income of $3.6 billion for Q3.
- Net revenue reached $7.4 billion, reflecting a 13% increase on a constant currency basis.
- This revenue growth was mainly fueled by a 17% rise in cross-border transaction volume.
- Total transaction volume experienced an 11% increase.
- The global number of cards in circulation rose by 6% to 3.4 billion.
- Gross transactions processed in local currency increased by 10% to $2.5 trillion.
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During the discussion, Sachin Mehra, Chief Financial Officer at Mastercard Inc., highlighted that contactless payments are utilized for goods and services in 70% of transactions. He emphasized that contactless payment technology significantly enhances convenience for international travelers.
Michael Miebach, President, CEO, and Director at Mastercard Inc., stated that secure, near real-time cross-border payments using Mastercard debit cards are currently accessible to users in 65 countries, with intentions to broaden this list by 2025.
The complete transcript can be found on Yahoo Finance.
Although crypto was not referenced in the report, it is recognized for its convenience in cross-border transactions, travel, and other sectors requiring international payments, as noted by Max Krupyshev, CEO of CryptoProcessing.com, during the Purpose Driven FinTech podcast. He believes that cross-border payments in crypto offer greater convenience compared to existing FinTech solutions.
Сообщение Contactless Payments Account for 70% of Personal Mastercard Transactions появились сначала на CoinsPaid Media.
