Payment service supplier: Mastercard is just not afraid of Trump tariffs | EUROtoday

Michael Miebach, CEO of the US fee service supplier Mastercard, appears ahead to Donald Trump’s upcoming presidency. “Basically, the mood in the US economy is optimistic,” stated Miebach in an interview with WELT AM SONNTAG. It now is dependent upon how the brand new authorities interprets marketing campaign themes into concrete coverage.

Miebach cited regulatory modifications and a extra environment friendly state as examples. The penalties of upper tariffs are manageable for Mastercard: “By far the most important trend for us is digitalization. And this occurs relatively independently of world trade and even economic growth. That’s why we look positively into the future,” stated Miebach. In precept, nobody critically questions some great benefits of an economically carefully linked world.

Miebach rejected allegations of a “duopoly” between Mastercard and Visa within the USA: “There has never been as much competition in payment transactions as there is today,” he stated. Compared to the profit the corporate offers to clients, its charges are minimal. “And we don’t force anyone to do business with us.”

As within the USA, there’s additionally robust competitors in Europe. Wero is watching Mastercard’s new, cross-border provide with curiosity. “We are available as a partner if desired.” For initiatives such because the digital euro promoted by the ECB or the US fee service FedNow, Miebach insists on clear limits: “If a central bank acts in a market as a participant and supervisory authority at the same time, that can be problematic. “It is all the more important that equal conditions are guaranteed for everyone,” stated Miebach.