Mastercard Move beat Wall Street estimates for first-quarter profit, proving that consumers continue to prefer contactless payments. The company’s latest earnings call reveals a powerful surge in its Move platform, boasting a 35 percent transaction growth. The impressive figure that accompanied the May 1 earnings release reflects the resilience of consumer spending, which was the key takeaway for CEO Michael Miebach.
On the Move
“Consumer and business sentiment has weakened, primarily due to concerns surrounding the impact from tariffs and geopolitical tensions. On the other hand, so far this year, the fundamentals that support consumer spending have been solid and our drivers are generally stable,” Miebach explained. Mastercard Move enables easy domestic and international money transfers to a wide range of destinations, such as bank accounts, digital wallets, cards, and cash access points. The network spans almost 10 billion endpoints globally, providing individuals worldwide with the assurance, autonomy, and adaptability needed to prosper in today’s interconnected economy.
Ups and Downs…and Ups
The company’s first-quarter results showcase a robust 9 percent climb in gross dollar volumes, reaching $2.4 trillion, with U.S. credit and debit card spending up by a solid 7 percent. Mastercard Move’s significant expansion, fueled by its growing popularity in the dynamic gig economy, is showing a positive uptick.
While acknowledging a dip in consumer and business confidence due to global uncertainties, Miebach remains optimistic. He emphasizes the underlying strength of factors driving consumer spending in 2025 and points to substantial opportunities for Mastercard across various sectors, including consumer payments, emerging commercial payment methods, and value-added services.
Contactless is King
The trend toward contactless payments continues its upward trajectory, now accounting for a remarkable 73 percent of all in-person transactions. Tokenization is also on the rise, securing approximately 35 percent of all switched transactions.
Mastercard’s value-added services delivered a stable 85 percent of recurring revenue streams, and its AI-powered fraud detection system has achieved a significant 40 percent improvement in identifying payment fraud compared to the same period last year.
Over the Border…and Beyond
Chief Financial Officer Sachin Mehra highlighted a healthy 15 percent increase in cross-border transaction volumes driven by sustained growth in both travel and non-travel-related international spending. April figures indicate continued stability in payment volumes and a further 16 percent rise in cross-border activity. The company anticipates net revenue growth to reach the higher end of the low teens percentage range. During Thursday’s early trading, shares experienced a slight decrease of 0.4 percent.
Despite that, Mehra confidently stated that consumer spending remains robust, supported by favorable conditions such as low unemployment rates and wage growth that is outpacing inflation. He noted, “We expect the consumer to remain engaged…and the one thing that’s to be said about an engaged consumer…the engaged consumer is using all the tools of the digital economy to make expense decisions and decide between discretionary and nondiscretionary spending.”
In the Virtual Realm
Looking ahead, Miebach addressed the potential of stablecoins, stressing the importance of regulatory clarity of legislation that is moving through Congress. He envisions a natural role for Mastercard in the evolving virtual landscape, utilizing its long expertise in establishing security standards and guaranteeing that various systems can work together effectively, similar to its current function in traditional card payments.
Looking to the Future
Miebach expressed continued confidence in consumer engagement, predicting sustained spending. He observed stable spending patterns within the U.S. and emphasized the ongoing shift from cash and checks to digital payment systems, a trend expected to persist regardless of economic cycles.
Overall, Mastercard’s leadership conveyed a message of resilience, attributing the company’s strong performance and positive outlook to its diversified business model and the underlying health of consumer spending.
