Mastercard CEO: Cash is our main competitor

My competition is with cash: Ajay Banga — LiveMint — “Eighty-five percent of the world’s retail payments — person to merchant — are in cash… So who do I view as my competition? Cash. I don’t view another network, I don’t view Paytm, I don’t view Apple as competition. We are actually working with all of them. They all need our technology.”

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