"We are the operating system of the digital economy."

Mastercard is one of the world's most recognized logos. It's everywhere — from point-of-sale machines to the Masters. But asked what Mastercard does, most people would probably say "they make credit cards."

In a wide-ranging interview with LinkedIn Editor-in-Chief Dan Roth for This is Working, CEO Michael Miebach explained just how far off that public perception is from the company's business and ambitions. Yes, Mastercard powers credit cards. But what it really does is provide the rails for payments — a staggering $9.8 trillion in transactions across 210 countries last year alone — while inventing and anticipating.

"There are people that look around two corners and think about fundamental technology innovation that might inform the product, it might inform today's solution," Miebach said. "We have a labs unit. They really think far out. They don't have a budget, a revenue budget. The only task they have is innovate, do basic R&D and figure out the next piece of technology. Our product teams, they think three years ahead and have a roadmap that we can share with our customers."

Miebach also lays out how Mastercard manages a technological ecosystem where 27,000 banks, countless merchants, and a growing array of tech giants, fintechs, governments, and cryptocurrencies must all seamlessly connect; Why speed and security are non-negotiable; and how the company in the not-too-distant future intends to make payment pain points disappear with the help of gen AI.

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