Report
Jim Sinegal
EUR 147.86 For Business Accounts Only

Wide Moats Keep Payment Networks Safe, but Competition Rages at the Outskirts of the Ecosystem

We recently took a closer look at developments in payments and at the retail point of sale, including a visit to the Money 20/20 conference in late October and talks with small merchants. We think economic moats remain the strongest at the center of the payment ecosystem, where Visa and Mastercard maintain massive networks of banks working on their behalf to add consumers and merchants. The role these undervalued companies play in setting standards is becoming more important as payment options p...
Underlying
MASTERCARD INCORPORATED

Mastercard is a technology company in the global payments industry. The company's solutions enabling consumers to use electronic forms of payment instead of cash and checks. The company provides a range of payment solutions and services using its brands, including Mastercard?, Maestro? and Cirrus?. The company is a multi-rail network that provides customers one partner to turn to for their domestic and cross-border payment needs. The company has additional payment capabilities that include automated clearing house transactions. The company also provides offerings such as cyber and intelligence products, information and analytics services, consulting, loyalty and reward programs and processing.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Jim Sinegal

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