Mastercard has reported a net revenue increase of 15% YoY to $4.5 billion for the quarter ended September 30, 2019. It also reported a net profit of 9.5% YOY to $2.1 billion for Q3. MasterCard’s clients issued 2.6 billion Mastercard and Maestro-Branded cards, it said.
- Switched transactions increased by 20% YoY
- Gross dollar volume, the dollar value of all transactions processed is at $1.7 trillion, an increase of 14% YoY
- Domestic dollar volume is at $494 Billion, as compared to $442 billion in Q3 2018
Mastercard’s business in Europe stood at $507 billion and increased by 16% YoY. Its business stood at $1,652 billion worldwide. Total operating expenses increased 12% YoY due to acquisitions and ongoing investments. The company has tied up with IndiGo in India for co-branded consumer credit. It has also tied up with Airtel Africa to provide Mastercard’s network for mobile wallet services in 11 markets.
Mastercard said it’s focusing on data security and will use biometrics which will allow patients to identified better. The company will also use behavioral analytics to protect health information. It will soon provide patient payment insurance. It will also add new services for the security of B2B payment. Mastercard is investing to grow its cybersecurity to identify fraudulent transactions and is expanding its relationship with partners such as Citi, Bank of America and HSBC.