Mastercard (MA) Goldman Sachs Technology Communacopia and Technology Conference summary

Consumer spending and macro trends

• Consumer spending remains healthy, supported by a strong labor market and consistent trends through July and August.

• Elevated interest rates and prices persist, but both high- and low-income consumers are adapting, leveraging digital tools and offers.

• The services sector, including travel and experiences, saw robust growth, with travel up 15% year-over-year in local currency.

• Mastercard Economics Institute continues to monitor global consumer behavior and macroeconomic factors.

Organizational changes and strategic alignment

• Regional go-to-market structure was reorganized to optimize efficiency and expertise, splitting into Americas and Asia Pacific, Europe, Middle East, and Africa.

• Product and services portfolios were realigned to focus on core payments, commercial/new payment flows, and services.

• Resources are being reallocated to high-potential markets and services, especially in cyber and data insights, while deprioritizing less impactful activities.

Growth algorithm and market opportunities

• Growth is driven by capturing economic flows, accelerating the shift from cash/checks to digital, expanding into new verticals, gaining market share, and optimizing the card portfolio.

• Significant long-term opportunity remains in digitizing cash, especially in markets like Africa, Japan, and parts of Europe.

• New business models post-COVID, such as streaming and transit, are increasing transaction volumes.

• Non-traditional verticals like housing, healthcare, and telcos are being targeted through partnerships and technology advancements.