More Master Card, Please...
It’s been very quiet on my end as you can see from my lack of posts. Master Card International (Ticker: MA) continues to be one of my favorite and best performing stock. Just looking at the scale of this company amazes me. Here’s a company that processed nearly $2 trillion in gross dollar volume in 2006 and they’re just really scratching the surface. The major growth in the credit card biz is Asia. Here’s a recent article from CNN Money: “China's ICBC: Credit cards to double in '07 State-owned bank says it will likely issue 20 million cards by year's end; spending will top $18 billion.” Click here to read the article. I’m looking to add to my position.
posted by Money Turtle @ 7:17 PM
2 comments
2 Comments:
You are right, Visa and MasterCard are the two ruling credit card companies in the world and they are aiming Asia at last. One deplorable thing - credit cards are becoming available not onle to rightful consumers but also to fraudsters. What about improving security tools?
Unfortunately, credit fraud will always be around and now with identity theft it's a big problem. The credit card companies such as MasterCard and Visa are relatively immune to this since it’s the banks that write off the fraudulent charges. MasterCard and Visa actually sell fraud detection services to the banks. But yeah, I agree that new security technology is needed.
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