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Texas fintech rides Mastercard Track to streamline supplier payments
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Digitised payments and the future of seamless trade
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Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Mastercard Q4 and full-year 2020 earnings conference call. [Operator instructions] I would now like to hand the conference over to your speaker for today, War Kneeshaw, head of investor relations. Thank you. Please go ahead, sir.
War Kneeshaw
Head of Investor Relations
Thank you, Tanya. Good morning, everyone, and thank you for joining us for our fourth-quarter 2020 earnings call. We hope you re all safe and sound. With me today are Michael Miebach, our chief executive officer; and Sachin Mehra, our chief financial officer.
Following comments from Michael and Sachin, the operator will announce your opportunity to get into the queue for the Q&A session. It is only then that the queue will open for questions. You can access our earnings release, supplemental performance data and the slide deck that accompany this call in the investor relations section of our website, mastercard.com. Additionally, the r
AdobeStock/Ivan Kruk
In 2014, China enacted a labor law meant to protect workers’ rights requiring that no more than 10% of a factory’s workforce to be temporary workers, according to The Information, a news website. However, for years, Apple took no major action against its suppliers for violating the law out of concerns it would create costs, drain resources and delay product launches.
New data and insight from former Apple employees suggest that Apple’s strategy for supply chain management makes it difficult for its three biggest contract manufacturers Foxconn Technology, Quanta Computer and Pegatron to remain compliant with labor restrictions. Last year, Apple admitted that Foxconn broke the law at its massive iPhone factory in Zhengzhou, which employs as many as 300,000 workers.