MasterCard Inc. (MA, Financial) (1.6%) (MA – $298.59 – NYSE) is one of the largest electronic payments processing companies, providing services in more than 210 countries and territories. It continues to capitalize on the strong secular global trend of moving to electronic payments from traditional paper. For all of 2018, clients charged approximately $4.3 trillion. At the end of September 2019, cards in force totaled over 2.1 billion. Longer term, MasterCard is well positioned to increase revenue due to global growth in personal incomes, rapid increase in commerce, and movement to electronic payments.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund fourth-quarter 2019 shareholder commentary.
