Why Mastercard is Devouring Cash

Forget your credit card. Soon you will be able to pay for a burger and fries at the drive-thru with no more than your voice, and you may even get a custom menu.

Mastercard ((MA) -Get Report) announced last week that it is partnering with a pair of start-ups to remove cashiers from the fast food business. It’s another shot fired in its war against cash, and friction.

Rest assured, the Purchase, NY-based company is going to win.

Executives at Mastercard have been trying to kill cash for a long time. The company forte is digital payment processing, for which it earns a small but durable fee on every transaction. Cash payments are the direct competition. Killing it has been great for business.

Mastercard has posted middle teens sales growth since 2016. Last year revenues reached $16.9 billion, a bump of 13% versus 2018.

That’s because from governments

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