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MasterCard

Welcome to the News View for "MasterCard".

Here, on these archive pages, you'll find all of the articles on Payments News for MasterCard listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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April 04, 2014

Headline News from PaymentsNews.com - April 4, 2014

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 03, 2014

First Data Adds MasterCard Common Debit EMV Support for STAR Issuers

First data logo 140x60pxFirst Data and MasterCard have announced an agreement in which First Data’s STAR® Network will participate in MasterCard’s common U.S. Debit EMV solution. The companies say that this agreement, combined with other recent industry announcements, provides a cost-effective solution and accelerates the ability for EMV functionality to be implemented across the U.S.

By working together, MasterCard and First Data will deliver enhanced choices in how debit card issuers identify and apply multiple network relationships to ensure Regulation II compliance in a cost-effective way. Merchants and acquirers will continue to route transactions as they prefer, without host systems reprograming.

First Data again demonstrates its leadership position in the advancement of EMV in the U.S. with STAR being one of the first debit networks to assist issuers, acquirers, and merchants with equal access to a shared EMV chip card technology, without restrictions on cardholder verification methods,” said Barry McCarthy, president, First Data Financial Services.

“This agreement, and other EMV agreements we have recently announced, helps accelerate the migration to EMV adoption, and moves the entire industry a step closer to additional debit payment security,” McCarthy added.

In January 2013, MasterCard was the first network to offer its proprietary technology to other U.S. debit networks in an effort to support the migration to EMV and enable the routing of PIN debit transactions over multiple, unaffiliated networks. This decision allows acquirers to brand transactions originating from the U.S. common AID (application identifier) for any debit networks that elect to participate.

April 01, 2014

Headline News from PaymentsNews.com - April 1, 2014

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 25, 2014

Headline News from PaymentsNews.com - March 25, 2014

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 20, 2014

Headline News from PaymentsNews.com - March 20, 2014

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  • American Express Expands Benefits for Platinum Card® Members - "These benefits include complimentary, unlimited access to Wi-Fi hotspots provided by Boingo Wireless, a global market leader in Wi-Fi, as well as an application fee statement credit option for the TSA Pre✓™ program."
  • Small Businesses Get Paid Faster With QuickBooks Payments - "As part of the expanding QuickBooks ecosystem of online products and services, QuickBooks Online users who also use QuickBooks Payments get their invoices paid on average two times faster than those who don’t. When these small businesses email their invoices and allow their customers to pay online, they significantly reduce the time it takes to receive payment."

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 19, 2014

Headline News from PaymentsNews.com - March 19, 2014

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 17, 2014

Headline News from PaymentsNews.com - March 17, 2014

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 12, 2014

MasterCard, Fiserv Partner on Debit EMV for Accel Network

MasterCard LogoFiserv and MasterCard have announced an agreement to make MasterCard’s U.S. common debit EMV solution available for the Accel debit network.

Under the agreement, MasterCard issuers will be able to "select and implement network relationships, while merchants and acquirers will continue to route transactions as they prefer, without introducing multiple applications and complicated technology upgrades."

This represents our continued commitment to help issuers, merchants and others continue the migration to the EMV standard here in the U.S.,” said Chris McWilton, president, North American Markets, MasterCard.

“In this agreement, Fiserv and the Accel network are able to provide their customers a solution that can be activated today, delivering enhanced security while streamlining implementation and accelerating delivery of chip cards to our shared cardholders.”

“As a leader in card processing, we are committed to providing our clients with a simple, streamlined path to implement EMV,” said Kevin Gregoire, group president, Financial Institutions Group, Fiserv.

“We are pleased to partner with MasterCard as part of a comprehensive, Regulation II compliant solution that includes Accel Network processing, card production and personalization, and industry-leading fraud and risk mitigation.”

MasterCard says its U.S. common debit EMV solution is "consistent with the EMV Migration Forum’s recommendations, including a single common debit application identifier (AID) and single application on each card, as well as multiple ways to verify the cardholder’s identity."

March 07, 2014

MasterCard, Visa Launch Cross-Industry Effort to Accelerate Payment Security

Visa150MasterCard LogoMasterCard and Visa have announced the formation of a new cross-industry group focused on enhancing payment system security to keep pace with the expectations of consumers, retailers and financial institutions. The companies say that the group "will initially focus on the adoption of EMV chip technology in the United States, in addition to addressing other security-related topics, including tokenization, point-to-point encryption and broader needs of the region."

“One of the critical roles we play is to protect consumers and businesses against criminals and fraudsters,” said Chris McWilton, president of North American Markets, MasterCard.

"Only through industry collaboration and cooperation will we address the real and immediate issue of security and maintain consumer confidence and trust. EMV will be the next step in these efforts, alongside enhanced security solutions for online and mobile channels.”

This new group will include a diverse group of participants in the payments systems including --- banks of all sizes, credit unions, acquirers, retailers, point-of-sale device manufacturers and industry trade groups. The formation of the group is a public recognition of the importance of all parties to work together and will ensure all voices can contribute to the strategic direction of payment security.

The recent high-profile breaches have served as a catalyst for much needed collaboration between the retail and financial services industry on the issue of payment security,” said Ryan McInerney, president, Visa Inc.

“As we have long said, no one industry or technology can solve the issue of payment system fraud on its own. These conversations will serve as a useful forum to share ideas, break down barriers and spur the adoption of next generation security solutions for the benefit of all.”

With a priority on delivering meaningful solutions that benefit consumers, merchants and financial institutions of all sizes, this group will focus on a broad range of security-related topics, including:

  • Advancing the migration to EMV in the United States. Chip technology generates a unique code for every transaction, making it nearly impossible for criminals to use the card for counterfeit fraud.
  • Promoting additional security solutions like tokenization and point to point encryption. While EMV addresses the physical point of sale, the need to protect mobile and online transactions is critical. In tokenization, the traditional account number will be replaced with a unique digital payment code, providing an additional layer of security.
  • Developing an actionable roadmap for securing the future across all segments of the payments industry.

MasterCard and Visa expect this group will complement and engage with other efforts across the industry, including proprietary risk councils, EMV task forces and the standard management bodies.

Headline News from PaymentsNews.com - March 7, 2014

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 06, 2014

Headline News from PaymentsNews.com - March 6, 2014

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 04, 2014

Headline News from PaymentsNews.com - March 4, 2014

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Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 26, 2014

Headline News from PaymentsNews.com - February 26, 2014

Glenbrook's Payments Insight Workshop series this spring focuses on three key topics for payments professionals: Bitcoin - Basics and Beyond (March 26), Data in Payments (April 22) and Innovation in Payments (May 8). Offered in a small group setting in the San Francisco Bay Area, registration is now open for each of these workshops!

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 25, 2014

Headline News from PaymentsNews.com - February 25, 2014

Glenbrook's Payments Insight Workshop series this spring focuses on three key topics for payments professionals: Bitcoin - Basics and Beyond (March 26), Data in Payments (April 22) and Innovation in Payments (May 8). Offered in a small group setting in the San Francisco Bay Area, registration is now open for each of these workshops!

On Twitter:

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 24, 2014

Headline News from PaymentsNews.com - February 24, 2014

The Kindle edition of our book "Payments Systems in the U.S. - Second Edition" - is now available in the Kindle Store as well as in an iBooks version for your iPad or Mac in the iBooks Store. The ebook versions are priced at US$9.99.

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 23, 2014

MasterCard Launches MasterPass In-App Payments

MasterCard logo 140pxMasterCard has announced MasterPass™ in-app payments enabling consumers to make secure purchases within a mobile app. MasterCard says that MasterPass in-app payments "eliminate the need to store payment card credentials across numerous mobile apps, providing consumers with a fast and simple payment experience."

MasterPass in-app payments is the latest offering from MasterCard to address the specific needs of the digital ecosystem. We’re creating great experiences for consumers across all channels and all devices, and enabling merchants to reach new consumers in ways not possible in the pre-digital world,” said Ed McLaughlin, Chief Emerging Payments Officer at MasterCard.

“We’re also developing a framework to make all payments using MasterPass as or more secure than anything we can do on cards today, ensuring that consumers can benefit from the highest possible levels of security.”

MasterPass in-app payments extend the capabilities of the current browser-based MasterPass digital service into the mobile app environment, and provide consumers with one secure direct relationship with their bank. Apps with MasterPass embedded in them enable consumers to complete a purchase with as few as one click or touch on their favorite connected device without leaving the app environment. MasterPass in-app payments will be made available to developers and merchants beginning in Q2 of this year.

MasterCard to Acquire C-SAM

MasterCard logo 140pxMasterCard has announced it has entered into an agreement to acquire C-SAM - a provider of mobile wallet and on-device software and services. MasterCard said this acquisition "will speed the development and deployment of mobile wallets and payment solutions globally, including the rollout of its MasterPass™ digital service."

Consumers today are living digital lifestyles, shopping in new ways using a range of new products and devices. Bringing C-SAM’s mobile expertise into MasterCard will help us launch a wider range of mobile and virtual solutions better and faster – bringing convenience and choice to consumers, while adding value to our expanding partnerships with telcos, governments and merchants,” said Ed McLaughlin, Chief Emerging Payments Officer, MasterCard.

“The acquisition of C-SAM is a significant milestone in our company’s history. While we have enjoyed a strong, longstanding relationship with MasterCard, the team is excited to be formally joining such an innovative and industry-leading organization to deliver end-to-end device-based solutions for service providers around the globe,” said Felix Marx, Chief Executive Officer, C-SAM.

MasterCard says that adding C-SAM’s proven expertise in developing mobile platforms will support MasterCard’s work with financial institutions to bring new, innovative and secure solutions to market. C-SAM’s on-device application and back-end infrastructure will aid development efforts to enable consumers to use MasterPass both in-store and online across multiple communications technologies, including NFC, QR/barcodes and remote checkout.

Terms of the agreement were not disclosed. The closing of the acquisition is subject to regulatory approval and is expected in the first quarter of this year.

February 20, 2014

Headline News from PaymentsNews.com - February 20, 2014

The Kindle edition of our book "Payments Systems in the U.S. - Second Edition" - is now available in the Kindle Store as well as in an iBooks version for your iPad or Mac in the iBooks Store. The ebook versions are priced at US$9.99.

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 19, 2014

MasterCard Adds Support for NFC-based Mobile Payments Using HCE

MasterCard logo 140pxMasterCard has announced it will publish a specification for Host Card Emulation (HCE) for secure near field communication (NFC) payment transactions. HCE enables payments and other NFC services – including loyalty programs, building access and transit passes – to be delivered without the use of a secure element (SE).

MasterCard says that "the specification, developed over the past year with Capital One and Banco Sabadell, marks a significant industry milestone that, in addition to MasterCard’s longstanding support for embedded and SIM-based SE implementations, will drive greatly expanded availability of mobile contactless payments for consumers."

Consumers are now shopping and paying in whatever way best fits their needs and lifestyles – and from every device they own. To meet their expectations for convenience, we need to accelerate the availability of services in the market. The use of HCE provides a very attractive way forward to launch an increased number of NFC-based offerings,” said James Anderson, Group Head, Emerging Payments at MasterCard.

“We continue to set standards and deliver solutions to our partners and customers that deliver great experiences for safe and secure digital payments.”

HCE is supported in Android OS KitKat 4.4, which began shipping in November 2013. MasterCard said its approach to HCE combines custom software on the mobile device with highly secure cloud-based processing. This greatly simplifies and speeds the deployment process of NFC-based mobile offerings to consumers by card-issuing financial institutions.

MasterCard plans to publish its secure remote payment specifications during the first half of 2014.

Headline News from PaymentsNews.com - February 19, 2014

The Kindle edition of our book "Payments Systems in the U.S. - Second Edition" - is now available in the Kindle Store as well as in an iBooks version for your iPad or Mac in the iBooks Store. The ebook versions are priced at US$9.99.

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 18, 2014

Headline News from PaymentsNews.com - February 18, 2014

The second edition of our book "Payments Systems in the U.S." has just been published. It's available in print from Amazon.com and in an ebook version for your iPad.

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 13, 2014

Headline News from PaymentsNews.com - February 13, 2014

The second edition of our book "Payments Systems in the U.S." has just been published. It's available in print from Amazon.com and in an ebook version for your iPad.

On the Web:

On the Wires:

  • Nok Nok Labs Delivers on Vision for Modern Authentication - "Nok Nok Labs, founded by Ramesh Kesanupalli, the visionary behind the FIDO Alliance, has launched the S3 Suite to enable organizations to support a broad variety of authentication technologies from a single, unified infrastructure."
  • Mastercard and Uber Offer Priceless Surprises This Valentine’s Day - "With planes ready to go, MasterCard will sponsor the launch of UberSky, a one day promotion brought to you by Uber giving a limited number of users a chance to deliver a personal on demand sky-writing service, valued at $10,000, to their loved ones for the small price of $500.00."
  • Citi Introduces New Way to Use ThankYou® Points - "With ThankYou Select and Credit, available ThankYou Points can be used to cover purchases in certain categories made with an eligible consumer Citi credit card that participates in ThankYou Rewards."
  • Synaptics and Nok Nok Labs Work Together to Enable the Future of Mobile Authentication - "The new joint solution will allow Synaptic's Natural ID Fingerprint Sensors to interact with the NNL(TM) Multifactor Authentication Client (MFAC), providing a fully integrated FIDO Ready(TM) solution for smartphone manufacturers looking to add strong, seamless authentication to Online Services from their mobile devices."

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 11, 2014

Headline News from PaymentsNews.com - February 11, 2014

The second edition of our book "Payments Systems in the U.S." has just been published. It's available in print from Amazon.com and in an ebook version for your iPad.

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 06, 2014

Headline News from PaymentsNews.com - February 6, 2014

The second edition of our book "Payments Systems in the U.S." has just been published. It's available in print from Amazon.com and in an ebook version for your iPad.

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 05, 2014

Headline News from PaymentsNews.com - February 5, 2014

The second edition of our book "Payments Systems in the U.S." has just been published. It's available in print from Amazon.com and in an ebook version for your iPad.

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 03, 2014

Headline News from PaymentsNews.com - February 3, 2014

The second edition of our book "Payments Systems in the U.S." has just been published. It's available in print from Amazon.com and in an ebook version for your iPad.

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

January 31, 2014

MasterCard Reports Fourth-Quarter 2013 Financial Results

MasterCard logo 140pxMasterCard has announced financial results for the fourth quarter of 2013 reporting net income of $684 million, up 13%, and earnings per diluted share of $0.57 up 16%, versus the year-ago period. Net revenue for the fourth quarter of 2013 was $2.1 billion, a 12% increase versus the same period in 2012. Adjusted for currency, net revenue increased 11%.

“We are very pleased with our performance this quarter and our full-year 2013 results reflect the overall strength of our global business,” said Ajay Banga, MasterCard president and CEO.

“In addition to signing several significant deals last quarter, we made new investments in processing and person-to person payments while expanding our MasterPass digital platform - all supporting safe and seamless payment experiences."

Worldwide purchase volume during the quarter was up 12% on a local currency basis versus the fourth quarter of 2012, to $805 billion. As of December 31, 2013, the company’s customers had issued almost 2 billion MasterCard and Maestro-branded cards.

January 17, 2014

Headline News from PaymentsNews.com - January 17, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

On the Wires:

  • Retailers Urge Appeals Court to Make Federal Reserve Follow the Law - The Merchants Payments Coalition, a group of merchants fighting for a more competitive and transparent bank-card industry, said today: “Judge Leon struck a blow for fairness with his original ruling. We think the evidence will also prove as compelling to the appeals court. We look forward to that court reaffirming the Durbin Amendment as passed and sending the Federal Reserve back to the drawing board to ensure it actually follows the law.”
  • "NRF Asks Appeals Court to Uphold Order for Lower Swipe Fee Cap - "The National Retail Federation today asked an appeals court to uphold a judge’s ruling that the Federal Reserve set its cap on debit card swipe fees far higher than intended by Congress and that the cap needs to be recalculated at a lower level."
  • Retailers Comment On The Data Security Act - "PIN-and-chip cards are widely used across the globe, and it’s time for the bankcard industry in the United States to adopt that technology to better protect our consumers. We must transition away from 1960s technology and adopt a 21st century system that will help reduce and prevent fraud and protect customers from the threat posed by sophisticated cybercriminals, hackers and data thieves."
  • U.S. Bank Announces Plan to Wind Down Checking Account Advance - "U.S. Bank will begin to wind down its short-term, small-dollar deposit advance product, Checking Account Advance, to align with final regulatory guidance issued by the Office of Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC)."
  • FinCapDev 2014 Opens Call for Proposals - “Mobile technology has the potential to expand access to critical financial services and support, improving consumer financial health,” said Jennifer Tescher, President & CEO of the Center for Financial Services Innovation. “That’s what FinCapDev is all about: leveraging that potential and enabling innovators to build products for consumers who want and need better access to high-quality tools and information.”
  • Acculynk Gains Ground in Europe with Secure PIN-Based Authentication Patent Grant - "Acculynk, the first global PIN-debit authentication gateway, announced today that the European Patent Office granted Acculynk patent protection for the company’s propriety process for PIN based authentication over the Internet."

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

January 13, 2014

MasterCard Says Now Is the Time for EMV-Chip Card Migration in U.S.

MasterCard logo 140pxOn a blog post this afternoon titled "U.S. Banks and Merchants: Now Is the Time for EMV-Chip Card Migration", MasterCard "outlined the company’s commitment to maintaining the current timeline and liability shift milestones for the U.S. EMV-Chip migration."

A letter from MasterCard's Chris McWilton sent last week says "That is why we will keep our 2015 liability shift dates – to help maintain this momentum and address the larger fraud threat."

January 02, 2014

Headline News from PaymentsNews.com - January 2, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

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