MA Stock Down 0.24%, Company Appoints Mark Barnett as President of Mastercard Europe

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Mastercard Inc (NYSE: MA), a popular American payment firm, announced the appointment of a new president of its European business in the person of Mark Barnett. Mastercard stock price is falling at the moment.

Before Barnett was appointed as president of Mastercard Europe, he was overseeing affairs of the firm in the UK, Ireland, the Nordics, and Baltics division. So, his new appointment is a promotion for him. As president, he will be succeeding Javier Perez, who is retiring as Mastercard’s European president at the end of 2020.

Barnett will now be in charge of the strategy across 53 countries, become part of the firm’s management committee, and be responsible to Gilberto Caldart, President of Mastercard International.

While reacting to his appointment, Barnett said that now is a critical time for Mastercard most notably in Europe, however, he is glad to lead the firm in the region. He said the firm has been helping people, businesses, and economies as he is ready to lead the firm he claims has been helping people make life easier.

Barnett is the right man to lead Mastercard in Europe, according to Gilberto Caldart, president for international because he has a wealth of experience working in the firm, proven track record, and a sharp focus in growing the firm’s business.

Mastercard’s 2025 Vision

Outside the firm’s appointment of a new president in Europe, it has been previously reported that Mastercard is going to be supporting small businesses, unbanked and underbanked individuals in receiving funds electronically and making contactless payment as required during this coronavirus pandemic.

The firm is also committed to connecting 1 billion people and connect 50million SMEs to the digital economy. The firm’s would also deliver stimulus package to American citizens who are unbanked.

With this Mastercard’s commitment, the firm would help unbanked or underbanked vulnerable communities stay safe and not need to go out to deposit paper checks. Rather they would receive their stimulus package in prepaid cards. Also, the firm intends to help over 20 million female entrepreneurs transit to an electronic transaction structure.

Mastercard and the APAC Supply Chain Association, MA Stock Down

The American payment firm has also joined forces with Alipay, VeChain, Australia government to aid $76 billion export to China.

The APAC consortium will see Mastercard finance trade and offer instant payment outside China as goods will also be tracked with Mastercard Provenance. Amidst Mastercard recent Europe presidential appointment, its 2025 vision and APAC consortium, the firm’s stock is experiencing a downturn, plunging by less than 1% as at the time of writing and trading at $268.24

Author: Muhaimin Olowoporoku

Muhaimin is a journalist, a fintech and crypto enthusiast who is passionate about its development in Africa and across the globe. Muhaimin derives pleasure in reporting and analysing happenings in the crypto world and a believer in Blockchain technology.

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