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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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November 19, 2009

Miami International Airport Accepts MasterCard PayPass

Tags » Contactless Payments, MasterCard  » Comments (0)

Affiliated Computer Services has announced that Miami International Airport will accept MasterCard PayPass contactless payments in its parking lots starting December 2009. MasterCard PayPass is a fast, cashless payment option that enables travelers to pay for parking simply by tapping their PayPass-enabled MasterCard card or device on a PayPass reader. The Miami International Airport PayPass implementation is being managed by ACS, an industry leader in airport parking systems. READ MORE

November 17, 2009

MasterCard Launches M/Chip Advance Payment Platform

Tags » Card Technology, Contactless Payments, Loyalty Programs, MasterCard  » Comments (0)

MasterCard has announced the availability of M/Chip Advance, a payment platform takes traditional debit, credit and prepaid chip cards to the next level by advancing payment functionality, facilitating deployment of contactless applications and integrating information needed for business applications such as transit and loyalty. The result according to MasterCard: "the potential to deliver versatile, multi-functional payment capabilities to consumers on one payment card." READ MORE

MasterCard Expands Utility of MoneySend Platform

Tags » MasterCard, Money Transfer, p2p - Person to Person Payments, Remittances  » Comments (0)

MasterCard has announced that starting in 2010, MasterCard's financial institutions will have the capability to offer MasterCard cardholders money transfers from any MasterCard or Maestro card to any other MasterCard or Maestro card. According to MasterCard, "this global card-to-card money transfer service will expand the usability and value of MasterCard products and global payments network by providing its customers with a convenient and cost-effective money transfer platform enabling person-to-person payments and cross-border remittances." READ MORE

MasterCard Selects Cryptomathic for OTA Data Preparation

Tags » Consumer Payments, Cryptomathic, MasterCard, Mobile Payments, Near Field Communication (NFC)  » Comments (0)

Cryptomathic has announced that it has been selected by MasterCard Worldwide to manage the data preparation requirements for the deployment of the MasterCard Mobile Over The Air Provisioning Service that enables MasterCard PayPass applications to be provisioned on to mobile phones. READ MORE

November 16, 2009

MasterCard Launches Authentication Program for Mobile Devices

Tags » Authentication, Chip and PIN, ECommerce Payments, MasterCard, Mobile Payments  » Comments (0)

MasterCard has announced the launch of a solution that harnesses the mobile phone as a form factor for its Chip Authentication Program. According to MasterCard," the initiative focuses on enabling consumers to authenticate their banking and online transactions through their own mobile phone with solutions from three leading industry vendors." READ MORE

MasterCard Launches MasterCard Mobile Payments Gateway

Tags » MasterCard, Mobile Payments  » Comments (0)

MasterCard has announced the MasterCard Mobile Payments Gateway, a mobile payments processing platform that the company says "enables financial institutions and mobile network operators to deliver end-to-end mobile payments solutions through the MasterCard Worldwide Network." READ MORE

MasterCard Launches MasterCard Priceless Gift Finder

Tags » MasterCard  » Comments (0)

MasterCard Logo.jpgMasterCard Worldwide has announced the launch of the MasterCard Priceless Gift Finder, a new online tool MasterCard says is "designed to drive e-commerce by helping online shoppers find the perfect gift this holiday season. Using the MasterCard Priceless Gift Finder, online shoppers can choose the price range they want to spend and the personality of their gift recipient. The Gift Finder then displays appropriate gift selections, along with ratings and reviews from Amazon.com. Purchases can be made at Amazon.com directly through the Gift Finder." READ MORE

November 12, 2009

M2 Europe Launches Airmax Scope Prepaid MasterCard

Tags » MasterCard, Prepaid Cards, UK  » Comments (0)

M2 Europe has teamed with fleet technology innovators, Airmax Group, to introduce a transit and corporate payments solution, the Airmax Scope Prepaid MasterCard. The Card combines the benefits of hosted data from vehicles with detailed payment reporting to provide comprehensive online fuel and expense management. READ MORE

November 04, 2009

MasterCard, Credicard, Redecard Launch PayPass in Brazil

Tags » Brazil, Citi Cards, Contactless Payments, MasterCard  » Comments (0)

MasterCard Worldwide, Credicard, Citibank’s credit card administrator for the Brazilian market, and Redecard have announced the launch of MasterCard PayPass contactless payment technology in Rio de Janeiro for public transportation and other quick service merchants. MasterCard says that PayPass is the first contactless payment product to be introduced for public transportation in Latin America. READ MORE

November 03, 2009

MasterCard Reports Third-Quarter 2009 Financial Results

Tags » MasterCard  » Comments (0)

MasterCard Logo.jpgMasterCard has announced financial results for the third quarter of 2009. "MasterCard's gross dollar volume was relatively flat, up 0.3% on a local currency basis, versus the third quarter of 2008, to $633 billion. Worldwide purchase volume during the quarter was also relatively flat, up 0.4% on a local currency basis, versus the third quarter of 2008, to $480 billion. As of September 30, 2009, the company's financial-institution customers had issued 964 million MasterCard cards, comparable to the number of cards issued at September 30, 2008." A presentation is available online. READ MORE

November 02, 2009

Univision Partners With MasterCard for New Prepaid Cards

Tags » Gift Cards, MasterCard, Prepaid Cards  » Comments (0)

Univision Communications has announced a strategic alliance with MasterCard Worldwide to introduce two new prepaid financial services, the Univision Prepaid MasterCard Card® (Tarjeta Univision MasterCard Prepagada®) and the Univision MasterCard Gift Card® (Tarjeta de Regalo Univision®). Both of these prepaid cards will be available nationally in 2010 and are being developed to provide Hispanic consumers with access to relevant, flexible and valuable financial tools that can be used anywhere Debit MasterCard is accepted. READ MORE

USAA to Implement MasterCard IPS for Debit Card Processing

Tags » Debit Cards, MasterCard, USAA  » Comments (0)

MasterCard Worldwide has announced that USAA Federal Savings Bank will implement its MasterCard Integrated Processing Solutions (IPS) debit processing platform for branded network and issuer processing services in support of signature and PIN debit, and ATM driving. READ MORE

October 27, 2009

A Look at Canada's Debit Card Market

Tags » Canada, Debit Cards, Interac, MasterCard, Visa  » Comments (0)

In an article titled "Credit card giants create debit havoc", Dana Flavelle and Rita Trichur write for the Toronto Star about small merchant reactions to the introduction of Visa and MasterCard debit products into Canada.

October 19, 2009

Fifth Third Bank Issues World Debit MasterCard

Tags » Card Reward Programs, Debit Cards, Fifth Third Bank, MasterCard  » Comments (0)

MasterCard has announced that Fifth Third Bank is now issuing the World Debit MasterCard card - which MasterCard calls "the industry’s only premium debit card that provides U.S. consumers with access to enhanced rewards, unique offers and savings opportunities and greater purchase protection. By offering World Debit MasterCard to its customers, Fifth Third Bank is now providing a custom-tailored debit product that meets the unique, everyday spending needs of its high-spend and reward-seeking debit cardholders." READ MORE

October 15, 2009

MasterCard Introduces Online Money Manager

Tags » Debit Cards, MasterCard, Online Banking, Personal Financial Management  » Comments (1)

MasterCardWW-small.jpgMasterCard Worldwide has announced the launch of MasterCard Money Manager™ - calling it "a new, interactive financial management tool that enables MasterCard cardholders to quickly and efficiently monitor debit card spending for themselves and members of their household. Using the web-based tool, consumers have the ability to review signature and PIN-based MasterCard transactions by merchant category, and create customized categories, making it easy to identify spending patterns and compare actual spend to an allocated budget." READ MORE

October 06, 2009

Hess to Accept MasterCard PayPass Contactless Cards

Tags » Contactless Payments, MasterCard  » Comments (0)

MasterCard Worldwide has announced that independent gasoline-convenience store retailer Hess will accept MasterCard PayPass at more than 870 company-operated Hess and Hess Express locations along the eastern United States. In addition to traditional magnetic-stripe payment cards, Hess will accept MasterCard PayPass at check-out counters at these locations by early 2010. READ MORE

September 29, 2009

MasterCard Challenges 7-Eleven Consumer Campaign Over Fees

Tags » Interchange Fees, MasterCard  » Comments (0)

In a press release this afternoon, MasterCard said that "three quarters of respondents in a new consumer survey believe the fees merchants pay for accepting credit cards are just a cost of doing business, and that merchants should pay those fees. These consumers recognize that merchants receive significant benefits from accepting payment cards, and that merchants should pay for those benefits."

MasterCard went on to question 7-Eleven's recent consumer petition campaign that encouraged consumers to support new legislation to regulate interchange fees paid by merchants. READ MORE

September 28, 2009

Lloyd Constantine's Priceless Begins Shipping This Week

Tags » Interchange Fees, MasterCard, Visa  » Comments (0)

Lloyd Constantine's new book "Priceless: The Case that Brought Down the Visa/MasterCard Bank Cartel" will be in stock and shipping from Amazon.com later this week. The book is quite a read - hard to put down - and highly recommended for payments professionals. See Glenbrook's Carol Coye Benson's comments on the book.

September 03, 2009

A Note about Check Cards

Tags » Debit Cards, MasterCard, Payroll Cards, Visa  » Comments (1)

Back in the early days of debit cards in the early 1990's, Visa pioneered the term Check Card for its debit card product.

More recently, it's been emphasizing Visa Debit as the product's name - transitioning away from the original Check Card branding.

Ironically, today's Wall St. Journal had a headline that read "Wal-Mart to Pay Via Check Cards". No, not via Visa Check Cards - but, rather, MasterCard Debit Cards.

Walmart Launches Electronic Pay Program with MasterCard, First Data

Tags » First Data Corp., MasterCard, Merchants, Payroll Cards  » Comments (0)

FirstData_logo-140px.jpgWalmart, MasterCard Worldwide and First Data have announced a "new, more sustainable payroll program designed to reduce the number of paper paychecks and pay stubs distributed each year to Walmart and Sam’s Club associates in the U.S. In order to benefit both associates and the environment, the electronic pay program will include the deployment of the Money Network™ MasterCard Paycard® and electronic pay stubs, which will cut down on paper consumption and provide associates easier access to their wages." READ MORE

September 02, 2009

Priceless: The Case that Brought Down the Visa/MasterCard Bank Cartel

Tags » Interchange Fees, MasterCard, Visa  » Comments (0)

Attorney Lloyd Constantine of Constantine Cannon has a new book coming out in early October titled "Priceless: The Case that Brought Down the Visa/MasterCard Bank Cartel".

From the advance material on the book:

415fpeqe2TL._SL160_.jpgPriceless offers readers an insider’s telling of the case that ended with the breakup of the Visa/Mastercard credit cartel and a $3.4 Billion settlement. Lloyd Constantine, founder of Constantine and Partners, the small boutique antitrust firm that could, and lead counsel on the Visa/Mastercard case, takes no prisoners as he tells his side of what happened in this very public lawsuit whose outcome continues to affect economics today."

Priceless is now available for pre-order from Amazon.com.

August 31, 2009

Tim Hortons Now Accepts MasterCard PayPass Contactless Cards

Tags » Contactless Payments, MasterCard, Merchants  » Comments (0)

MasterCard has announced that Tim Hortons, one of North America's largest quick service restaurant chains, is now accepting MasterCard PayPass at more than 400 U.S. locations. Tim Hortons first began accepting MasterCard PayPass in many of its 3,000 stores in Canada in 2007. READ MORE

August 28, 2009

Duality Comes to Canada

Tags » Canada, Credit Cards, MasterCard, Visa  » Comments (0)

canada_flag-125px.gifIn an article titled "RBC to offer both Visa, MasterCard products", Scott DeVeau writes for the Financial Post that "Royal Bank of Canada announced its plans Wednesday to become the first major credit card issuer in the country to offer both Visa and MasterCard products."

August 26, 2009

Support Grows for MasterCard Advanced Authentication for Chip

Tags » Authentication, Chip and PIN, ECommerce Payments, MasterCard  » Comments (0)

MasterCard Logo.jpgMasterCard has announced that it has approved personal card readers and authentication servers from four vendors for MasterCard Advanced Authentication for Chip - a new EMV authentication solution that leverages the hundreds of millions of EMV cards already in the wallets of cardholders. According to MasterCard, "banks looking to manage the growing threat of online fraud can today deploy this best-of-breed two-factor authentication solution by working with leading providers to the payments industry: DSSS, Gemalto, Logos and Thales." READ MORE

August 25, 2009

Whataburger to Accept Contactless MasterCard PayPass Payments

Tags » Contactless Payments, MasterCard  » Comments (0)

MasterCard Logo.jpgMasterCard has announced that Texas-based quick service restaurant chain, Whataburger, will accept MasterCard(R) PayPass contactless payments at more than 500 locations across southern United States. Customers will be able to use their MasterCard PayPass card or device to simply Tap & Go to pay for menu items at the counter and at the drive-thru, enabling them to make purchases quickly and conveniently. READ MORE

August 24, 2009

MasterCard Settles with New Zealand Commerce Commission

Tags » Interchange Fees, MasterCard  » Comments (0)

NewZealandFlag_logo-140px.jpgThe Commerce Commission and MasterCard International have announced signing an agreement "settling the Commission’s claims that MasterCard’s credit card scheme rules providing for the payment of multilateral interchange fees, together with related rules, breached the restrictive trade practices provisions of the Commerce Act. The Commission and MasterCard have agreed to resolve the Commission’s claims on substantially the same basis as the Commission’s settlement with Visa, which was announced on 12 August 2009." READ MORE

MasterCard, CyberShift Announce Alliance for Expense Management

Tags » Commercial Cards, MasterCard  » Comments (0)

MasterCard Logo.jpgMasterCard and CyberShift have announced an alliance to provide businesses with CyberShift's Expense Management Automation solution. According to the companies, "the agreement provides MasterCard issuers with a compelling travel and expense management solution that they can offer to their corporate card customers. Through the combined capabilities of CyberShift and MasterCard, corporate card customers will have access to a flexible expense management solution, open integration to travel booking systems of choice, superior travel and spend analytics, BlackBerry(R) smartphone support, digital receipts filing, hotel folio data and much more, all delivered via a Software-as-a-Service (SaaS) model." READ MORE

August 20, 2009

MasterCard Enhances Suite of Corporate Meeting Solutions

Tags » Commercial Cards, MasterCard  » Comments (0)

MasterCard Logo.jpgMasterCard has announced enhancements to its corporate meeting solutions portfolio that it says will "provide companies with greater control, efficiency and transparency around meeting planning and management. The company has partnered with two leading providers of online meeting solutions to address the needs of different stakeholders in today's fragmented corporate meetings market." READ MORE

July 31, 2009

Highlights from the MasterCard Earnings Call - Processing

Tags » MasterCard  » Comments (0)

In yesterday's MasterCard quarterly earnings call (from the transcript provided by SeekingAlpha.com), MasterCard CEO Bob Selander commented on MasterCard's processing opportunities - saying that "globally out of 100 transactions done with our cards, we’re still only processing about 40 out of those 100." He noted that "the ones that we don’t process are generally those domestic transactions that are handled by the bank formed consortiums or other domestic processing entities."

Highlights from the MasterCard Earnings Call - Interchange Fees

Tags » Interchange Fees, MasterCard  » Comments (0)

In yesterday's MasterCard quarterly earnings call (from the transcript provided by SeekingAlpha.com), MasterCard CEO Bob Selander early on commented directly on the pending interchange-related legislation in the US Congress. He spoke about "the extraordinary value merchants receive, when they accept payment cards" noting that "the average consumer credit charge-off rate as a percentage of point of sale transaction volume is multiples higher than the average consumer credit card interchange rate in [our] system."

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