NEW YORKâSoaring stock prices are propelling Visa and Mastercard up the market value charts, where they currently rank seventh and 11th, respectively, among companies in the benchmark S&P 500 index.
The stock prices of both Visa and Mastercard have gained roughly 50% in the past year, Reuters said.
While the stocks may not keep up that torrid pace, Visa and Mastercard would each be worth over $1 trillion by 2023 if their average annual gains of the past three years were to continue, surging past the likes of Facebook and Berkshire Hathaway, if they also maintain their recent pace, Reuters said.
Fueling their rise is a shift toward cashless financial transactions spurred by a rise in online shopping, Reuters said.