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MarketScreener Homepage  >  Equities  >  Nyse  >  Mastercard Incorporated    MA

MASTERCARD INCORPORATED

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EU to introduce crypto-assets regime by 2024, EU documents say

09/18/2020 | 10:44am EST

The European Union will introduce new rules within four years to make cross-border payments quicker and cheaper through the use of blockchain and crypto assets like stablecoins, two EU documents showed.

The European Commission is due to set out its strategy for encouraging greater use of digital finance at a time when 78% of payments in the euro zone are in cash. It also wants a rapid shift to "instant" payments generally as pandemic lockdowns showed the growing role of cashless payments.

The EU executive will present a draft law to clarify how existing rules apply to crypto assets and set out new rules where there are gaps, the documents said.

"By 2024, the EU should put in place a comprehensive framework enabling the uptake of distributed ledger technology (DLT) and crypto-assets in the financial sector," the documents said. "It should also address the risks associated with these technologies."

Stablecoins, a type of cryptocurrency often backed by traditional assets, leapt onto policymakers' agendas last year when Facebook revealed plans for its Libra token. Central banks are now studying whether to launch their own.

Brussels also wants to make it easier to share data within the financial sector to encourage competition and a wider range of services, while upholding the principle of "same risk, same rules, same regulation", the documents say.

The bloc should also have rules in place within four years to allow new customers to start using financial services quickly once anti-money laundering and identity checks have been completed, it said.

"By 2024, the principle of passporting and a one-stop shop licensing should apply in all areas which hold strong potential for digital finance," it said. Instant payment systems should become the "new normal" by the end of 2021.

Instant payments are suitable for many uses beyond traditional credit transfers, in particular for physical and online purchases, which are currently dominated by payment card schemes, the documents said.

Europe has long sought "home grown" alternatives to the likes of MasterCard and Visa, the U.S. payments firms heavily used in the region.

The Commission will assess the impact of charges levied on consumers for instant payments and to could require that they are no higher than those for regular credit transfers.

By Huw Jones


© Reuters 2020
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Financials (USD)
Sales 2020 15 210 M - -
Net income 2020 6 149 M - -
Net Debt 2020 1 493 M - -
P/E ratio 2020 52,7x
Yield 2020 0,46%
Capitalization 331 B 331 B -
EV / Sales 2020 21,9x
EV / Sales 2021 18,5x
Nbr of Employees 18 600
Free-Float 62,2%
Chart MASTERCARD INCORPORATED
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Mastercard Incorporated Technical Analysis Chart | MA | US57636Q1040 | MarketScreener
Technical analysis trends MASTERCARD INCORPORATED
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 37
Average target price 353,16 $
Last Close Price 323,00 $
Spread / Highest target 28,5%
Spread / Average Target 9,34%
Spread / Lowest Target -9,91%
EPS Revisions
Managers
NameTitle
Ajaypal S. Banga Chief Executive Officer & Director
Michael E. Miebach President & Chief Executive Officer-Elect
Richard Neil Haythornthwaite Chairman
Edward McLaughlin President-Operations & Technology
Sachin J. Mehra Chief Financial Officer
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