Here Is How Mastercard Is Betting That Global Trade Will Increase
Even with the threat of tariffs and uncertainty surrounding U.S. trade policy, Mastercard is betting that global trade will increase.
The company is teaming up with Microsoft to launch a new B2B platform called Mastercard Track.
"There are a lot of frictions in the current trading system," said Michael Froman Mastercard's president of strategic growth and former U.S. Trade Ambassador.
"We've partnered with Microsoft, with a number of banks, a number of B2B networks to create a platform that will make it much easier, particualrly for small and medium sized businesses to become part of global supply chains, to manage risk of those supply chains and have a lot more visibility into the whole payments flow."
Froman said Mastercard's move is a long-term decision.
"Whatever's happening in the trade policy area, we need to do what we can to take friction out of the system," Froman said.