Mastercard, Inc. (MA, Financial)
Concern over the Delta variant of COVID-19 spreading and hampering travel has been reflected in Mastercardâs performance this quarter. Cross-border transactions have suffered. However, unless lockdowns are reinstated, we donât see Mastercardâs growth slowing down. They continue to be a duopoly with Visa, controlling the toll road of payments. They are relentlessly focused on the future. Mastercardâs CEO was quoted saying, âIf you wandered around the office and asked people, from the junior most employee, to the employee who has been here 35 years, âwhat do you think Mastercardâs mission is?â they will say âkilling cash.â Itâs embedded in everything that weâre doing. And itâs not mixed in with other things. Our mission is to kill cash.â
From Jeff Auxier (Trades, Portfolio)'s Auxier Asset Management summer 2021 market commentary.
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