Introduction
MasterCard Worldwide is basically a United States based multinational financial service corporation that is headquartered in the city of Purchase, New York located in the Westchester County. The headquarters for Global Operations are located in the O’Fallon, Missouri, in the United States. The basic purpose of the firm is to look to process payments between the different bank merchants and look to issue cards or the credit unions of the purchase that look to avail the MasterCard in terms of credit cards and the debit cards which help the customer make purchases through online and traditional medium.
The company has been a public limited firm since 2006. Before offering IPO, the company was a cooperative which was owned by more than 25,000 financial institutions that offered their respective branded cards. The card was developed in order to compete with the Bank America which was a product of Bank of America, which was later transformed into a Visa credit card issued by the Visa Inc. From the year 1966 until 1979, MasterCard has been called as the inter bank or the Master Charge.
Revenues
The total revenues for MasterCard have been constantly increasing ever since the world economy has come after the recession that badly hit all the economic and financial institutions across the globe. The revenues for MasterCard in the year 2014 have been $9.47 billion where the revenues for the firm in the year 2013 were $8.35 billion. The total revenues for the year 2012 were $7.39 billion. $6.71 billion was earned as revenue by MasterCard in the year 2011. The upward increase the revenue have indicated the fact that the company has been constantly earning increased revenues than the previous years, which indicated that the firm has a sound financial position.
Net Income
The net income for MasterCard for the year 2011 has been $1.91 billion. The net income for the year 2012 has been $2.76 billion. Similarly, the operating income for the year 2013 has been $3.12 billion. The operating income for the firm in the year 2014 has been $3.62 billion. The increase in net income each year has indicated the fact that ever since the profits or the revenues have increased, the company has spent more money on expenses and has looked upon increases expenses; this indicates that the net income has been on an upward incline.
Total Assets
The total assets for MasterCard as per the year ending December 2014 have been $14.63 billion.
Number of Employees
The total number of employees at MasterCard has been more than 7,000 as per the data retrieved in the year 2012. The employees of the company have been operating from different parts of the world, whereas the headquarters of the company is in the United States. The company has been quite focused on delivering employee satisfaction. The company has been quite successful in holding on to the most talented individuals from the industry.
Corporate Leadership Structure
The corporate leadership structure of MasterCard or the key individuals in the company are Richard N. Hay thornth waite (Chairman), Ajaypal Singh Banga (President & CEO), Ann Cairns President, International Markets, Chris McWilton is the (President, North America), Gary Flood (President, Global Products and Solutions), Martina Hund Mejean (Chief Financial Officer), Rob Reeg (Chief Human Resource Officer), Timothy Murphy (General Counsel and Chief Franchise Officer), and the Vice Chairman Walt M. Macnee.
Ajaypal Singh Banga
The CEO and the President of MasterCard has been one inspirational personality. The success he has achieved in a short span of time actually portrays the hard work this person has given throughout his career. Ajay Banga is a member of board of director for the company.
Before actually joining MasterCard, Banga was serving as the CEO of Citigroup Asia Pacific where he was responsible for all the business affairs in the region, which also includes the institutional banking, wealth management, alternative investment, credit cards, debit cards and the consumer banking. The individual joined the company where because of his excessive hard work and leadership was promoted up the ranks quite early and quickly.
Moreover, Mr. Banga started off his career in the year 1981 where he started off at Nestle India. He worked over there for a span of 13 years where he served in different domains such as the general management, marketing and sales. After that he joined at PepsiCo. where he was instrumental and he was the one who actually launched the fast food franchises in the country......................
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