Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Credit

<ul><li>Mastercard is preparing for a future in which the person using your credit card may not actually be a person.</li><li>Through a partnership with AI startup Alchemy, Mastercard is enabling consumers to give artificial-intelligence agents access to virtual payment credentials, allowing those agents to make purchases within predetermined boundaries.</li><li>A user could limit how much an AI can spend, restrict it to particular merchants or products, or require approval before certain transactions.</li></ul>

Mastercard is preparing for a future in which the person using your credit card may not actually be a person.Through a partnership with AI startup Alchemy, Mastercard is enabling consumers to give artificial-intelligence agents access to virtual payment credentials, allowing those agents to make purchases within predetermined boundaries.A user could limit how much an AI can spend, restrict it to particular merchants or products, or require approval before certain transactions.

Mastercard Wants AI To Become Your Personal Shopper—Would You Trust It With Your Credit Card?

Equity Bottom-Up

<ul><li>Mastercard Incorporated reported a strong financial performance in the second quarter of 2026, with net revenues increasing 12% and adjusted net income rising 16% year-over-year on a non-GAAP currency-neutral basis.</li><li>Value-added services and solutions net revenue showed significant growth of 18%, reflecting sustained demand for security solutions, digital authentication, and business insights.</li><li>The company’s payment network also experienced growth, with worldwide gross dollar volume (GDV) up 8%, domestic GDV in the U.S. increasing 6%, and cross-border volumes up 12%, supported by continued spending in travel and non-travel categories.</li></ul>

Mastercard Incorporated reported a strong financial performance in the second quarter of 2026, with net revenues increasing 12% and adjusted net income rising 16% year-over-year on a non-GAAP currency-neutral basis.Value-added services and solutions net revenue showed significant growth of 18%, reflecting sustained demand for security solutions, digital authentication, and business insights.The company’s payment network also experienced growth, with worldwide gross dollar volume (GDV) up 8%, domestic GDV in the U.S. increasing 6%, and cross-border volumes up 12%, supported by continued spending in travel and non-travel categories.

Mastercard Incorporated’s Next Big Play — Agentic Commerce, Stablecoins & AI Converge!

<ul><li>Mastercard Incorporated (NYSE:MA) has completed its acquisition of BVNK, a deal first announced in March 2026 for up to $1.8 billion, bringing stablecoin infrastructure directly into one of the world’s largest payment networks.</li><li>The closing, disclosed on August 3, follows Mastercard’s second-quarter earnings call, where management described BVNK as central to its plan to connect fiat currencies, stablecoins, tokenized deposits, and other digital assets through a trusted interoperable layer.</li><li>BVNK provides enterprise-grade payment orchestration, licensing, custody-like account functionality, conversion, and connectivity across on-chain and traditional rails.</li></ul>

Mastercard Incorporated (NYSE:MA) has completed its acquisition of BVNK, a deal first announced in March 2026 for up to $1.8 billion, bringing stablecoin infrastructure directly into one of the world’s largest payment networks.The closing, disclosed on August 3, follows Mastercard’s second-quarter earnings call, where management described BVNK as central to its plan to connect fiat currencies, stablecoins, tokenized deposits, and other digital assets through a trusted interoperable layer.BVNK provides enterprise-grade payment orchestration, licensing, custody-like account functionality, conversion, and connectivity across on-chain and traditional rails.

Mastercard’s $1.8 Billion Stablecoin Acquisition Could Reshape Payments!

<ul><li>Mastercard Incorporated reported solid results for the first quarter of 2026, building on momentum from the previous year.</li><li>The company’s net revenue grew by 12%, and net income increased by 15% on a currency-neutral, non-GAAP basis, reflecting a resilient payment network supported by healthy consumer and business spending globally.</li><li>Despite uncertainties arising from geopolitical tensions, particularly the conflict in the Middle East impacting cross-border travel, Mastercard’s diversified global reach — with acceptance locations expanded nearly 70% in five years across 150 currencies — contributed to the strength of its financial performance.</li></ul>

Mastercard Incorporated reported solid results for the first quarter of 2026, building on momentum from the previous year.The company’s net revenue grew by 12%, and net income increased by 15% on a currency-neutral, non-GAAP basis, reflecting a resilient payment network supported by healthy consumer and business spending globally.Despite uncertainties arising from geopolitical tensions, particularly the conflict in the Middle East impacting cross-border travel, Mastercard’s diversified global reach — with acceptance locations expanded nearly 70% in five years across 150 currencies — contributed to the strength of its financial performance.

Mastercard: How Big Is the Stablecoin Opportunity After the BVNK Acquisition?

<ul><li>Mastercard Incorporated reported robust financial and operational results for the fourth quarter and full year 2025, reflecting growth across key metrics despite macroeconomic and geopolitical uncertainties.</li><li>Net revenues increased 15% year-over-year on a non-GAAP currency-neutral basis for Q4, driven notably by a 22% rise in value-added services and solutions.</li><li>These growth areas benefited from a diversified business model spanning geographies, payment types, and services, with acceleration in digital commerce, cross-border transactions, and security offerings.</li></ul>

Mastercard Incorporated reported robust financial and operational results for the fourth quarter and full year 2025, reflecting growth across key metrics despite macroeconomic and geopolitical uncertainties.Net revenues increased 15% year-over-year on a non-GAAP currency-neutral basis for Q4, driven notably by a 22% rise in value-added services and solutions.These growth areas benefited from a diversified business model spanning geographies, payment types, and services, with acceleration in digital commerce, cross-border transactions, and security offerings.

Mastercard: 77% Contactless Penetration Signals The Real Growth Engine Not The Headline Revenue!

United States

MasterCard, Inc. is a global payment solutions company that provides a variety of services in support of the credit, debit and related payment programs of financial institutions. The Company offers transaction processing services for credit and debit cards, electronic cash, automated teller machines, and travelers checks.

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Mastercard (MA US)

Mastercard Wants AI To Become Your Personal Shopper—Would You Trust It With Your Credit Card?

Mastercard is preparing for a future in which the person using your credit card may not actually be a person. Through a partnership with AI...

Baptista Research

Mastercard Incorporated’s Next Big Play — Agentic Commerce, Stablecoins & AI Converge!

Mastercard Incorporated reported a strong financial performance in the second quarter of 2026, with net revenues increasing 12% and adjusted net...

Baptista Research

Mastercard’s $1.8 Billion Stablecoin Acquisition Could Reshape Payments!

Mastercard Incorporated (NYSE:MA) has completed its acquisition of BVNK, a deal first announced in March 2026 for up to $1.8 billion, bringing...

Baptista Research

Mastercard: How Big Is the Stablecoin Opportunity After the BVNK Acquisition?

Mastercard Incorporated reported solid results for the first quarter of 2026, building on momentum from the previous year. The company’s net...

Baptista Research

Mastercard: 77% Contactless Penetration Signals The Real Growth Engine Not The Headline Revenue!

Mastercard Incorporated reported robust financial and operational results for the fourth quarter and full year 2025, reflecting growth across key...

Baptista Research

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