For most people, the word franchise may conjure up an image of their favorite fast food outlet. But what it really mean? It means people know what to expect when they stop for a meal and can trust the franchise to deliver that experience.

Mastercard’s franchise model is no different (OK, hold the fries). Franchise creates, manages and maintains the Mastercard business model, setting the standards for our customers to create the common, consistent payment experience across the world – and, increasingly, so much more.

On the latest episode of "What's Next In," we chat with Chief Franchise Officer Paul Petta,  who explains why franchise is so important to our business strategy and key to the company’s growth beyond payments – from how we engage with fintechs to accepting new payment types to ways we can lend our expertise and technology to completely new areas, such as digital identity.

Hear from Petta about how he and his team not only tackle growing the existing Mastercard ecosystem but identify new opportunities for growth. We'll also learn about one of his personal passions and who'll play him in his biopic (hint: he lives in the John Hughes universe).