MasterCard CFO: Consumer Confidence Low

Boston, MA, Sept. 15, 2009–MasterCard’s chief financial officer on Tuesday said the global economic slowdown continues to prove “challenging” for consumers.

“We are mindful that while the unemployment figures are a lagging indicator, consumer confidence remains low,” said Martina Hund-Mejean at the Barclays Capital Global Financial Services Conference.

“There is a correlation, a tight correlation, between the unemployment rate and the write-offs of our bank customers which will continue to impact growth.”