MasterCard Reports Third-Quarter 2009 Financial Results
MasterCard has announced financial results for the third quarter of 2009. "MasterCard's gross dollar volume was relatively flat, up 0.3% on a local currency basis, versus the third quarter of 2008, to $633 billion. Worldwide purchase volume during the quarter was also relatively flat, up 0.4% on a local currency basis, versus the third quarter of 2008, to $480 billion. As of September 30, 2009, the company's financial-institution customers had issued 964 million MasterCard cards, comparable to the number of cards issued at September 30, 2008." A presentation is available online.
"We are very pleased with our third-quarter financial results, specifically since we began to see signs of stabilization in parts of our business," said Robert W. Selander, MasterCard chief executive officer. "Total processed transactions continued to grow at a high single-digit rate, with double-digit growth coming from our Asia Pacific/Middle East/Africa and Latin America regions. At the same time, our overall cross-border volumes are steadying with our Asia Pacific region demonstrating significant growth in the quarter, and the U.S. showing a lower rate of decline. We continued to aggressively manage costs and improve margins, while still investing in key growth areas across our business.
"Overall, our results once again underscore the global trend toward electronic payments, and the strength of our business model," Selander added. "We continue to make life easier for consumers, businesses and governments, all of whom seek safer, more controllable and more efficient payment alternatives for everyday commerce."
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