This morning, Mastercard announced its financial results for the first quarter. During our conference call with the financial community, we highlighted strong volume and transaction growth.
In addition to solid performance in the quarter, we also announced the completion of two acquisitions. They complement and strengthen our participation in new payment flows and help deliver consumers a safe and convenient payment experience as the Internet of Things continues to take hold.
Vocalink – Today is the first day that the Mastercard and Vocalink teams come together under one company. The combination of Vocalink with our strong card-based retail payments business will enable us to take a more holistic approach to retail, P2P and B2B payments. As we execute, our customers will be able to turn to one partner to address their payment needs and continue to drive electronic forms of payment.
Digital First – With consumers increasingly living a digital-first life, we continue to focus on a customer-centric approach that strengthens the value we will deliver together. Our teams have built on the momentum of Masterpass, as more than 85 million accounts are now enabled to be used on our digital platform. This platform, together with our MDES token technology, is providing a simple and secure payment experience for both consumers and merchants.
In a number of countries, we have been driving the use of QR codes, helping small and micro merchants to accept payments more simply and efficiently. One example is our work with the Indian government to develop and implement the Bharat QR standard. And, our Payment Gateway Services deal with GM will help consumers make secure digital payments for parts and services across the automaker’s 4,400 North American dealers.
Security – We’re also working tirelessly to implement the technology that delivers a seamless and secure consumer experience. The recent biometric card announcement is adding another layer of security to cardholder identification process. Our acquisition of NuData will further these efforts, leveraging machine learning to take a person’s habits – like how fast they type – to help distinguish authentic users and help reduce fraud as they make payments on their devices.
Driving the Business, Empowering Leaders
Beyond a review of the past quarter, it’s equally important to note where we’re creating a foundation for future growth. Within Mastercard, we recently launched Give Me 5 to build on our support of the U.N. Sustainable Development Goals, specifically the objective to achieve gender equality. Give Me 5 focuses on three areas:
- Engaging, enabling and empowering our female leaders across the globe
- Strengthening our engagement with women in technology and women entrepreneurs
- Developing products based on an understanding of how and where we can help make women’s lives easier
It’s this same commitment to building a foundation for the future that led us to participate in the Fortune-U.S. State Department Global Women’s Mentoring program. Over the next two weeks, we’ll welcome two smart and engaging entrepreneurs from Kenya and the U.K. During this time, we’ll have an opportunity to learn from their experiences and share perspectives from our teams to support this next generation of problem solvers and business builders.
We’ll provide updates on our efforts to deliver against our strategy, as well as our support of empowering economies on this site in the weeks to come.