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Opinion | Your Card Payment Has Been Declined - The New York Times

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Ajay Banga has spent a decade as chief executive of Mastercard. Last year, he oversaw $6.5 trillion in transactions. That means he knows what we’re spending right now (aggregated and anonymized, of course) and how long it might take to get us out of our current economic funk. It also means Mr. Banga has leverage over virtually any business that relies on credit card payments. For example, following recent reporting from New York Times columnist Nicholas Kristof on the scale of child pornography on PornHub, Mastercard announced that it would terminate payments on that site.

Mr. Banga departs as chief executive at the end of this year, transitioning to the post of executive chairman. In this “exit interview,” Kara Swisher presses him on whether the company he’s helped build can keep up with Silicon Valley — and with the social consciousness of the next consumer generation.

Illustration by The New York Times; photograph by Guerin Blask for The New York Times

A podcast about power, hosted by Kara Swisher (@karaswisher). Every Monday and Thursday, from New York Times Opinion. Listen and subscribe.

This episode of “Sway” was produced by Nayeema Raza, Heba Elorbany, Matt Kwong and Vishakha Darbha and edited by Paula Szuchman; fact-checking by Kate Sinclair; music and sound design by Isaac Jones; mixing by Erick Gomez. Special thanks to Renan Borelli, Liriel Higa and Kathy Tu.

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Opinion | Your Card Payment Has Been Declined - The New York Times
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