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COVID-19 Has Accelerated the Growth of Mastercard's Digital Payment Business

COVID-19 Has Accelerated the Growth of Mastercard's Digital Payment Business

Mastercard (NYSE: MA) is a key player in the payment processing industry -- one of two companies that control the merchant acceptance "rails" for credit cards (the other, of course, is Visa). In a real sense, it benefits directly from global economic growth and rising consumer spending. The more people spend -- and use credit cards in those transactions -- the more money Mastercard makes in transaction fees.