The largest banks in the European Union have been quietly developing a new payment system that aims to give customers the option to abandon their Visa (NYSE:V) and Mastercard (NYSE:MA) cards, Bloombers News reported on Friday. Known as Wero, this initiative is currently being rolled out across much of Western Europe, supported by 16 major banks and payment processors, including BNP Paribas (OTC:BNPQY) SA, Deutsche Bank AG (NYSE:DB), and Worldline SA, the report added. While this may seem straightforward, successfully implementing Wero could result in losses for Visa and Mastercard, potentially costing them billions in fees from European merchants every time a consumer uses their cards.
We recently compiled a list of the 10 Best Stocks To Invest In According to Billionaires. In this article, we are going to take a look at where Mastercard Incorporated (NYSE:MA) stands against the other billionaire-approved stocks. Billionaires and top hedge fund managers typically dominate the stock market, focusing on leading companies with strong track records […]
MasterCard (MA) closed at $491.27 in the latest trading session, marking a +0.37% move from the prior day.