Mastercard: Contactless Payments Now 70% of Face-to-Face Transactions

Mastercard’s third-quarter earnings results demonstrated that consumers are still spending, and sentiment is healthy amid a resilient labor market and the Federal Reserve’s September cuts to interest rates.CEO Michael Miebach said on a conference call with analysts: “On Halloween, well, there’s nothing spooky here.”Revenue growth of 14%, to $7.4 billion, was boosted by healthy consumer spending, which also spurred cross-border volume growth of 17% year over year, he said.“The macroeconomic environment remai ...