Mastercard Incorporated (NYSE:MA) has recently forged a strategic partnership with Crisis24, a comprehensive risk management, crisis response, consulting, and global protective solutions firm owned by GardaWorld, a global leader in security services. This collaboration aims to empower Mastercard Travel and Expenses (T&E) cardholders across the Eastern Europe, Middle East, and Africa (EEMEA) region with access to Crisis24’s advanced risk management platform.
The travel risk management solution offered through this partnership is a pioneering initiative, specifically designed for MA’s commercial card customers in the region. This user-friendly platform can be accessed online or via a mobile app, providing companies with valuable insights into the global risk landscape.
Key Benefits of the Solution Include
- Enabling firms to conduct proactive risk assessments.
- Assisting in the formulation of a corporate security strategy.
- Establishing alert protocols for swift dissemination of crucial information to ensure the safety of an organization’s workforce during business travel.
In the event of an unforeseen crisis, the solution equips organizations with real-time updates on the location of their employees, alerts, and mitigation recommendations. It can also be seamlessly integrated into an organization’s policies.
This partnership underscores Mastercard’s commitment to helping businesses make informed decisions, efficiently manage risks, and enhance the travel experience for their employees, whether they are traveling domestically or internationally. Crisis24’s proprietary platform, which combines AI technology with a team of intelligence analysts, is a fitting partner to complement Mastercard’s efforts by providing data on a wide range of global risks.
Furthermore, this collaboration represents Mastercard’s initiative to bolster its suite of T&E offerings. While the company’s T&E solutions already provide control, safety, and transparency throughout various payment touchpoints, the addition of a solution ensuring the safety of employees is a valuable enhancement. This portfolio upgrade has the potential to attract more customers to utilize Mastercard’s T&E solutions, potentially boosting its revenue.
The timing of this partnership is opportune, given the significant increase in travel as the impact of COVID-19 recedes. The resumption of full-scale business activities and the growing confidence of people in travel continue to drive momentum in business travel.
Mastercard’s stock has shown strong performance, gaining 28.1% in the past year, surpassing the industry’s growth of 14.5%.
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