Mastercard 3Q14 Earnings Call Notes

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. Full transcripts can be found at Seeking Alpha

Sustained growth in the second quarter

” Our SpendingPulse data showed sustained growth over the course of 2014. US retail sales ex automobiles in the third quarter were up 4.2% and that was a higher number than the second quarter growth of 3.8%.”

Month growth trend showed deceleration in September

“However the monthly growth trend showed some deceleration with several sectors lodging, furniture furnishings, grocery experiencing some noticeable slowdowns in September. So these are mixed trends in the US but overall the underlying indications [have been] positive. In October, the consumer confidence index is up over September as well”

Lots of people signing up for apple pay

“The people signing up for Apple Pay is actually pretty good. I would say the first few weeks have been very encouraging. You see us in – if you’d been to the Giants game and Kansas City Royals game in the San Francisco stadium, which unfortunately I didn’t go to see even though I was hanging around in San Francisco, but I met a number of people who have been there. We were using and demonstrating the work of Apple Pay for purchasing in the stadium, we had advertising, we had activities and promotions going on in there. So there are a lot going on in the Apple Pay space right now.”

Still lots of opportunity in Asia

“The level of cash utilization in the Asian market is the highest probably around the world other than a few Latin American markets. I mean China and India are still in the 95 to 99 plus percentage of transactions being in cash, and that even Japan which is a developed country in that part of the world has a 75% to 80% cash percentage in its transaction in the country'”

Yes the global economic picture looks mixed

“Yes, the global economic environment remains mixed but I think we are demonstrating that we can navigate through this pretty well and to this last question, you will see us continue to invest in our business, on products, on services, on technologies that are key to our strategy, not just organically but also through acquisitions”