Mastercard Says Contactless Payments Increasing Amid Pandemic

The transcript discusses Asia's economic momentum and the impact of lockdowns on consumer spending. It highlights MasterCard's focus on service verticals and diversification. Concerns about economic slowdown and payment defaults are addressed, with a focus on risk management. The phases of economic recovery are outlined, emphasizing contactless payment growth. The impact of lockdowns on cross-border payments and the resilience of e-commerce are discussed. The competition in contactless and mobile payments is explored, along with MasterCard's cost management and strategic commitments. Finally, MasterCard's entry into China and future plans are detailed.

How has the shift towards contactless payments been characterized during the pandemic?

What investments is MasterCard committed to despite the economic challenges?

What is the significance of the approval from the PBOC for MasterCard's operations in China?