MasterCard isn't just for swiping any more.
The payment industry is going through a branding revolution. AmEx had expanded its elite positioning to the EveryDay card for moms. More recently, it has partnered with sharing-economy player Uber. Those with AmEx reward points can pay for their taxi ride through the Uber app or earn double points.
In its official corporate branding, MasterCard now identifies itself as a technology company. That's along with, of course, being a leader in payments processing. During Q1, its revenue from its information services, including deep dives into data analytics, grew faster than that from payments.
What MasterCard is selling are products and services derived from aggregating and intepreting the bits and pieces of information from its billions of card transactions. The buyers include retailers, government, financial institutions, corporate headquarters and individuals.
Today, in Payment Week, I published an article deconstructing how MasterCard has repositioned itself. Here you can read that analysis.