Mastercard EVP on Recent Deals With Venmo and KeyBank

Mastercard has been on a tear lately -- and much of it has to do with all the new deals they are creating. We sat down with their executive vice president of digital solutions and innovation to get the scoop.

Author:: Tracy Byrnes
Publish date:: Aug 30, 2018 3:40 PM EDT

Mastercard (MA) - Get Report is on a tear recently. The stock is up 40% year-to-date and almost 60% year over year.

A lot of it has to do with all the new partnerships and alliances they are creating in an effort to continue to digitize the payment process.

Recent deals include JPMorgan Chase's (JPM) - Get Report commercial card business, a new co-brand card with L.L. Bean and an expanded relationship with PayPal (PYPL) - Get Report to include a new Venmo debit card.

In addition, they recently announced a deal with KeyBank (KEY) - Get Report to bring artificial intelligence to payment services

AI is being in KeyBank's fraud detection services for the first time and Mastercard will offer technology and services "to build its business, capitalize on new opportunities, and transform into a client-centric, digital bank, according to the press release."

We sat down with Jess Turner, executive vice president of digital solutions and innovation, to get all the details on how these deals and AI are going to change the way we make payments.