Chase Coleman’s Tiger Global holds large stakes in both Mastercard (MA) and Visa (V) as do almost all the other ‘Tiger Cub’ portfolios. Many funds hold these companies. They practically have a duopoly on the payment processing business. As the world evolves from cash payments to plastic payments, they stand to benefit. They bear no credit risk and are just the ‘middle men’ in each transaction, earning a fee every time someone buys something. Therefore, while it could be argued that a massive recession is not the best time to own something related to consumer spending, all of the Tiger Cubs see real value in these franchises as a growing trend of the future.