The Government of Egypt, represented by the Ministry of Communications and Information Technology, and MasterCard announced the details of a recent Memorandum of Understanding (MoU) that will aim to extend financial services to 54 million Egyptians. The announcement was made by H.E. Atef Helmy, Minister of Communications and Information Technology, and Ajay Banga, Chief Executive
MasterCard Incorporated has announced financial results for the second quarter of 2014. The company reported net income of $931 million, up 10%, or 9% adjusted for currency, and earnings per diluted share of $0.80, up 14%, in each case versus the year-ago period. Acquisitions had no impact on earnings per diluted share. Net revenue for
MasterCard’s technology combined with increased engagement of governments is helping drive greater expansion of financial inclusion. Public-private partnerships, such as the social security program in Pakistan MasterCard announced last week, offer citizens new opportunities to join the financial mainstream. Around the world, innovations such as prepaid and mobile payments combined with biometrics are enabling more
MasterCard Incorporated announced the results of its annual meeting of stockholders, held at the company’s worldwide headquarters in Purchase, N.Y. At the meeting: The full slate of 13 directors was elected for a one-year term, to expire at the next annual meeting of stockholders. Included in this group are two new board members, nominated earlier
MasterCard Incorporated has announced financial results for the first quarter of 2014. The company reported net income of $870 million, up 14%, and earnings per diluted share of $0.73, up 18%, in each case versus the year-ago period. Net revenue for the first quarter of 2014 was $2.2 billion, a 14% increase versus the same
In a speech delivered at the China Development Forum, Ajay Banga, president and CEO of MasterCard, recognized the growth of financial access within the country over the past 30 years and highlighted the critical role financial inclusion plays in the continued development of the Chinese economy. This is the fourth year that Banga has attended
MasterCard and the Inter-American Development Bank (IDB) have recently signed a keystone agreement, as announced at the World Economic Forum in Davos, Switzerland, to work together in an effort to improve economic inclusion, transparency and financial formalization through the expansion of electronic payments in Latin America and the Caribbean (LAC). The five-year public-private partnership is
MasterCard and Child & Youth Finance International (CYFI) have announced a global strategic partnership aimed at advancing financial capabilities of children and youth. Of the 2.2 billion children in the world less than 1 percent has access to any form of financial education, often exposing them to potential exploitation. MasterCard and CYFI share the belief
MasterCard Incorporated announced financial results for the third quarter of 2013. The company reported net income of $879 million, up 14%, and earnings per diluted share of $7.27, up 18%, in each case versus the year-ago period. Net revenue for the third quarter of 2013 was $2.2 billion, a 16% increase versus the same period
As government, NGO and business leaders gather at the Financial Inclusion 2020 Global Forum in London, MasterCard president and CEO Ajay Banga emphasized the central role electronic payments play for advancing financial access. “Today’s payments technology – prepaid and mobile coupled with biometrics – brings millions of people access to financial tools for the first
