‘No Silver Lining’ For Visa, MasterCard From Brexit

Brexit is bad news for Visa ( V ) and MasterCard ( MA ), according to Sandler O’Neill . Analyst Christopher Donat writes that he sees four major downsides for card networks following the vote, including slower consumer spending, less cross-border activity, foreign exchange headwinds to earnings in the UK and EU, and the fact that the migration from cash to digital payments will slow. “At this time, we do not see any silver lining from Brexit for the card networks.” Read More »