The evolution of currency has swiftly shifted over the years as more people move toward a cashless society with the convenience of online payment transitions. The digital payment platform Mastercard has grown so much from the change in consumer behavior to electronic payments. Even during the coronavirus pandemic, MA is benefiting from the accelerated trend towards digital payments as more people continue to make purchases from home.
Deutsche Bank reiterated their Buy rating on shares while raising their price target to $383 (from $320). The analysts expect volumes and transactions to continue to improve and the potential for accelerated adoption of digital to drive long-term growth rates.
During discussions with the anlaysts at a virtual tech conference, President and CEO-elect Michael Miebach highlighted increased demand from the government wanting to modernize the structure of electronic payments and allow businesses to optimize payments. Miebach also mentioned the potential for the accelerated