Mastercard Inc.'s top executive said he is "bullish" on the regulatory prospects for the next four to five years given early signs from the administration of President Donald Trump.
Trump seems genuinely concerned about how regulations have made it difficult for businesses in the U.S. to grow, President and CEO Ajaypal Banga said during a conference call to discuss earnings.
"He is definitely committed to helping make it easier for businesses to open, operate and run profitably," Banga said. The government needs to be careful and enact the right kind of regulations that do not stifle innovation and growth, he added.
Trump's position on upgrading domestic infrastructure bodes well for Mastercard because it would increase transaction volume in the country, Banga said. Improvements in the country would help Mastercard in retail and commercial payments, he added.
"The infrastructure in our company could do with the benefit of a sustained investment program, both in physical and digital," the CEO said.
A reduction in corporate taxes that brings Mastercard's taxes below its current rate, which is approximately 28%, would benefit the bottom line, Banga said. On taxes, regulations and infrastructure, the outlook for the company under the new presidential administration is a net positive, he added.