Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  MasterCard    MA

MASTERCARD (MA)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets

Big credit card firms agree to cut fees they charge merchants: source

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/09/2018 | 06:34pm CEST

OTTAWA — The federal government is announcing today that major credit card companies have agreed to lower the fees they charge the country's businesses.

A government source tells The Canadian Press that Ottawa has reached voluntary, five-year deals with Visa, Mastercard and American Express that the feds expect will help small and medium-sized companies save a total of $250 million per year.

Starting in 2020, Visa and Mastercard will reduce the fees they collect from businesses to an average annual effective rate of 1.4 per cent — down from 1.5 per cent — and narrow the gap between the highest and lowest rates they charge retailers.

American Express has agreed to provide more fairness and transparency as part of a separate voluntary commitment that recognizes its unique business model.

The changes, which are also expected to help consumers, are being unveiled at an Ottawa grocery store later today by Finance Minister Bill Morneau and Mary Ng, the new minister for small business and export promotion.

The source, speaking on condition of anonymity to discuss matters not yet public, says the reductions could help smaller businesses save thousands of dollars over the five-year period — and the government is hoping the extra funds will encourage owners to invest, expand and create jobs.

Ottawa expects the lower interchange rates will enable smaller firms to avoid being at a big competitive disadvantage compared to larger companies, which have more leverage in negotiating with credit card firms for reduced fees.

The government also expects consumers to benefit from the changes because the lower costs to businesses will enable them to keep prices lower.

In November 2014, Visa and Mastercard voluntarily agreed to reduce their average effective fees to 1.5 per cent over five years — a period that began in April 2015.

Morneau announced in September 2016 that an independent audit found that the companies had met their respective commitments. At the time, the government also said it would conduct a review to ensure there was adequate competition and transparency for businesses and consumers when it comes to credit card fees.

© 2018 The Canadian Press. All rights reserved., source Canadian Press DataFile

Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN EXPRESS COMPANY 3.78% 106.73 Delayed Quote.3.72%
MASTERCARD -0.28% 203.06 Delayed Quote.32.35%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on MASTERCARD
04:19aSIGA TO ENHANCE SPORTS INTEGRITY COO : Henzab
AQ
10/21MASTERCARD : Maktoum bin Mohammed receives CEO of Mastercard
AQ
10/20MASTERCARD : CardinalCommerce Announces First Live EMV 3-D Secure Transactions
AQ
10/19MASTERCARD : BT's best fibre broadband deal now comes with a free Fitbit Charge ..
AQ
10/19MASTERCARD : Stay mobile, unlock an on-the-go lifestyle
AQ
10/19MASTERCARD : New Partnership Aims to Make Payments More Sustainable
BU
10/18MASTERCARD : awards banks in Azerbaijan
AQ
10/18WIRECARD : founding member of EHI mobile payment initiative drives digitization ..
AQ
10/18SIGNING OFF : Mastercard Moves Beyond Signatures Worldwide
BU
10/17ISIGNTHIS LTD (ASX : ISX) JCB Tier 1, Visa & Mastercard Tier 2 - EU/EEA Operatio..
AQ
More news
News from SeekingAlpha
10/19Value Or Growth? Both! 
10/19Market Needs More Fear To Bottom - Cramer's Mad Money (10/18/18) 
10/16Oppenheimer confident on Mastercard and Visa 
10/16Why I Own Mastercard Stock 
10/15Sears Files For Bankruptcy (Wall Street Breakfast Podcast) 
Financials ($)
Sales 2018 14 954 M
EBIT 2018 8 331 M
Net income 2018 6 456 M
Finance 2018 2 929 M
Yield 2018 0,50%
P/E ratio 2018 32,98
P/E ratio 2019 27,21
EV / Sales 2018 13,9x
EV / Sales 2019 12,2x
Capitalization 211 B
Chart MASTERCARD
Duration : Period :
MasterCard Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MASTERCARD
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 41
Average target price 231 $
Spread / Average Target 14%
EPS Revisions
Managers
NameTitle
Ajaypal S. Banga President, Chief Executive Officer & Director
Ari Sarker Co-President-Asia Pacific
Richard Neil Haythornthwaite Chairman
Edward McLaughlin President-Operations & Technology
Martina Hund-Mejean Chief Financial Officer
Sector and Competitors
1st jan.Capitalization (M$)
MASTERCARD32.35%211 450
VISA20.36%309 936
PAYPAL HOLDINGS4.90%91 711
PALO ALTO NETWORKS INC44.34%19 005
AVAST0.00%3 565
MIMECAST LTD24.14%2 209