Mastercard executives held an earnings call for analysts from major financial institutions to present Q3 2024 results and answer questions.
Mastercard reported financial results for Q3 2024. The call was also held with analysts from firms including JPMorgan, Oppenheimer, Deutsche Bank, Morgan Stanley, Barclays, Goldman Sachs, and others, during which Mastercard executives presented and commented on main results and answered questions.
Key information:
- Mastercard reported Q3 net income of $3.6 billion.
- Net revenue was $7.4 billion, up 13% on a constant currency basis.
- The revenue increase was primarily driven by a 17% rise in cross-border transaction volume.
- Total transaction volume grew by 11%.
- The number of cards in use worldwide increased by 6% to 3.4 billion.
- Gross transactions processed in local currency grew by 10% to $2.5 trillion.
During the interaction, Sachin Mehra, Chief Financial Officer at Mastercard Inc., noted that contactless payments are used to pay for goods and services in 70% of cases. Special attention was paid to the fact that contactless payment technology makes life much easier for international travelers.
Michael Miebach, President, CEO, and Director at Mastercard Inc., said that secure, near real-time cross-border payments using Mastercard debit cards are already available to users in 65 different countries, with plans to expand the list by 2025.
The full transcript is available on Yahoo Finance.
Crypto wasn’t mentioned in the report, even though it’s very convenient for cross-border transactions, travel, and other businesses where international payments are needed, as Max Krupyshev, CEO of CryptoProcessing.com, pointed out during the Purpose Driven FinTech podcast. In his opinion, cross-border payments in crypto are much more convenient even compared to today’s FinTech solutions.
Сообщение Contactless Payments Account for 70% of Personal Mastercard Transactions появились сначала на CoinsPaid Media.