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Mastercard, one of the world’s most important credit card providers, has suffered a loss in incomes for this year’s third quarter, due to legal charges.
The company had to pay approximately $515 million to rival Discover Financial Services on accounts of an anti-trust settlement.Despite the charges, Mastercard has managed, much to the surprise of financial analysts, to obtain quite a high profit, due to an increasing number of transactions.
Mastercard representatives have declared that they have not really felt the effect of the world crisis, but they expect to do so sometime next year.
They hope it will not last more than six months and are aware Mastercard will probably not meet the revenue growth they had initially planned for 2009, and foresee a decrease of somewhere between 12%- 15%.
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This post was written by Dana Ciucalau on November 6, 2008
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