For more than half a century, Mastercard has been one of the world’s leading payment-processing corporations. Its primary service is to process payments between purchasers using Mastercard-branded credit, debit, and prepaid cards and the banks or credit unions issuing these cards. The payment-processing corporation began in 1966 as a conglomeration of bank cards throughout the country after the success of Bank of America’s card, which debuted in 1958. Mastercard posted revenue of $18.8 billion in 2021.
Mastercard’s Vice President of U.S. Government Affairs Tom Gannon was awarded SFOF’s 2019 Economic Freedom Award.