From shifting consumer sentiment to AI’s growing role in financial security, credit card company leader Michael Miebach looks at how the business of payments is changing. What did the latest holiday shopping season reveal about consumer confidence going into 2026? Mastercard CEO Michael Miebach unpacks the signals he’s seeing across global spending—from shifting consumer sentiment to AI’s growing role in financial security. Miebach also explores how credit cards fit into a future shaped by crypto, digital wallets, and agent-driven commerce, and what it will take for businesses to stay competitive amid continued market disruption.