Names like Visa, Mastercard and PayPal are well positioned in an ongoing trade war and slowing globalization, according to Morgan Stanley.
multiple countries
There are some headwinds though. Payments continue to shift online, meaning countries may have more of a national interest to protect them or build their own for activities like tax collections and economic data indicators. while countries may want have control over those networks, Faucette expects a "combination" where global networks from partner countries can benefit, too.
Global payment companies like Visa and MasterCard already have a huge existing scale advantage, Faucette said —making them the logical low-cost alternative. And at the moment, China does not figure meaningfully into Morgan Stanley's investment for the "MVP stocks" — MasterCard, Visa, and PayPal.
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