Travel rebound boosts Mastercard's Q1

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Travel rebound drives strong first quarter for Mastercard

Mastercard reported a strong first quarter as the card network's payments volume continued to rebound from challenges it faced during the pandemic.

Gross dollar volume (GDV) rose 17% year over year (YoY) to $1.9 trillion and purchase volume surged 21% YoY to $1.5 billion, down from 27% growth in Q4. Cross-border volume was one of Mastercard's key growth drivers in the quarter, mirroring Q4 with a 53% YoY increase that far exceeded a 17% decline in Q1 2021.

In addition, on the Q1 earnings call, CFO Sachin Mehra said that international travel had come back stronger than expected and that there "continues to be pent-up demand."

Looking ahead, Mastercard can focus on partnerships and crypto to sustain growth.

Insider Intelligence's Will Paige has the full story.

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