Baird analyst David Koning noted that the FTC issued a press release Friday announcing that it is requiring MasterCard to start allowing alternative networks to be accessed by giving PAN data on e-commerce debit transactions. However, he believes that if a merchant chooses to use an alternative network, they lose the benefits of MasterCard’s tokenization, fraud, and other services and doubts the order will have "a material impact." The analyst, who thinks U.S. online debit is about 3% of MasterCard revenue and doubts they will lose much of this, adding that he thinks they "can gain in some places," likes the stock "a lot" and maintains an Outperform rating on MasterCard shares.
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