Mizuho analyst Dan Dolev maintained Mastercard Inc. with a Buy, cut the price target from $435 to $375, maintained Visa Inc. with a Neutral, and lowered the price target from $235 to $215. The revival of the highly lucrative cross-border volumes following the COVID-19 shock to the travel industry remains a significant component of the medium-term bull thesis…

Businesses in Canada may be eligible to claim hundreds of dollars in credit card processing fees following a multimillion-dollar class action settlement with Visa and Mastercard. Merchants can now apply for rebates on so-called swipe fees charged on credit card transactions dating back two decades, the Canadian Federation of Independent Business (CFIB) said Monday. The…

Analysts maintained their conviction on Mastercard Incorporated post Q1 results. Despite Mastercard’s 1Q22 10 percent broad-based beat, Barclays analyst James Fotheringham lowered estimates marginally (by as much as 2 percent) due to revenue headwinds expected from exiting Russia. Fotheringham also cut the target price to $402 (from $412) and rated the stock as Outperform. The revised 2022E guidance…

Mastercard Inc. on Thursday reported first-quarter profit above Wall Street expectations and said consumers were braving stubbornly high inflation and concerns around new coronavirus variants to spend on travel, sending its shares up 3 percent. Pent-up demand from Americans who stayed homebound for a prolonged period helped cross-border travel surpass 2019 levels in March for…

LONDON—Crypto lender Nexo said it has teamed up with global payments company Mastercard to launch on Wednesday what it calls the world’s first “crypto-backed” payment card. It signals the latest move by crypto and incumbent financial networks to join forces as digital assets become more mainstream. Nexo said the card, available in selected European countries…

Domestic credit and debit transactions in the Russian Federation have been largely unaffected by Western sanctions and the voluntary withdrawal of card companies from the country, due to an alternative system for managing domestic payments that was developed in the late 2010s. In the aftermath of President Vladimir Putin’s 2014 annexation of Crimea and the…

LONDON—Credit cards issued by Russian banks using the Visa and Mastercard payment systems will stop functioning overseas after March 9, Russia’s central bank said on Sunday, adding that some local lenders would look to use China’s UnionPay system instead. Russian-issued Mastercard and Visa cards would be accepted within Russia until their expiry, the bank said,…

Two of the biggest payment processing firms in the world on March 5 announced they were suspending operations in Russia. Mastercard and Visa said Russian banks would be cut off from their networks and their cards would not work at Russian merchants or ATMs. “We don’t take this decision lightly. Mastercard has operated in Russia…

U.S. payment card firms Visa and Mastercard have blocked multiple Russian financial institutions from their network in compliance with Western sanctions, the companies announced in separate statements on Monday and Tuesday. Visa said it has watched the “tragic scenes in Ukraine with deep sadness and disbelief” and “is taking prompt action to ensure compliance with applicable sanctions,…

Payment processing behemoth Mastercard Inc. is launching a new consulting service dedicated to Open Banking, Open Data, Crypto & Digital Currencies, and Environment, Social & Governance (ESG). What Happened In a Tuesday announcement, Mastercard wrote that it is expanding its consulting business with services that include an explicit dedication to the cryptocurrency space. Raj Seshadri—the firm’s Data & Services President—promised…