Indeed, Mastercard has come a long way since its foundation. Today, it serves 200+ countries worldwide, striving to make payments faster, and more effortless for its users. Its current CEO and president is Michael Miebach, who has been leading it since January 2021. Ajaypal Singh Banga, Mastercard's previous CEO, now serves as this card network's executive chairman.
Mastercard's massive customer base enjoys a long list of benefits, including protection, simplicity, reliability, and convenience since it's widely accepted. Notably, Mastercard doesn't issue cards directly to its members, contrary to other payment methods like American Express and Discover.
Instead, it has partnered with many financial institutions to enable its users to receive cash and send it to businesses, such as eCommerce websites, local enterprises, and mobile online casinos.