Showing posts with label MasterCard. Show all posts
Showing posts with label MasterCard. Show all posts

Monday 26 June 2023

How Mastercard Plans To Beat Visa


Mastercard is the second largest card network in the U.S., accounting for more than a quarter of all purchase volume using a payment card. 
As the world transitions to a more cashless society, Mastercard’s value has continued to soar. 
Shares of the company have seen nearly 100% gain over the past 5 years, outperforming American Express, Discover and even Visa. 
So how is Mastercard able to generate so much revenue and how does it set itself apart from the rest of its competitors?

Thursday 10 March 2022

Crypto Cards - a New Payments Disruption?

Account openings of crypto-backed cards are outpacing traditional cards. Using Visa and Mastercard as the rails, several crypto platforms now enable consumers to make everyday purchases with cryptocurrency. Analysts say it's a crucial step to making crypto a mainstream form of payment.

Is this the start of a new payment disruption?

Read the full details from The Financial Brand HERE.

Sunday 13 October 2019

Libra Cryptocurrency could be in danger, as Mastercard, Visa and Ebay pull out

Facebook’s cryptocurrency Libra took a major hit last Friday, when Mastercard, Visa and Ebay left the Libra Association, who supervises the project. Stripe and Argentina-based Mercado Pago have also left the initiative.

On Monday, the companies who are part of the Libra Association will formalize their participation in the initiative. Companies such as Visa and Mastercard may have second thoughts, as global regulators have raised concerns about the project.

Earlier this month, PayPal also left the Libra association. The departures mean that Libra no longer has the support of any major digital payment company.

Despite these setbacks, Dante Disparte, the head of communications at the Libra Association, has said that "We are focused on moving forward and continuing to build a strong association of some of the world's leading enterprises, social impact organizations and other stakeholders" and that membership of the association may grow and change over time.

Last Wednesday, French finance minister Bruno Le Maire said that Libra should not be developed in the European Union and said, "it should not be the role of a private company to try and get a sovereign currency like a sovereign state."

Valdis Dombrovskis, the Executive Vice President-Designate of the European Commission, also said this week that Libra needs to be tightly regulated to preserve monetary stability and to prevent money-laundering operations.

In the U.S., Federal Reserve Chairman Jerome Powell said earlier this year the cryptocurrency raises "many serious concerns regarding privacy, money laundering, and consumer protection." Treasury Secretary Steve Mnuchin has also said that the currency could be used to finance terrorist operations, and that it represents a "national security issue."

Libra was unveiled by Facebook in June, and was touted as a digital currency that can be managed from one's phone. The cryptocurrency is particularly directed at the 1.7 billion people on the planet without access to a traditional bank account.

Tuesday 25 August 2015

Here's Why Visa and MasterCard Are Rooting for Apple Pay


From The Motley Fool –

“By now, the phrase "cash or credit" is so firmly entrenched in Americans' vernacular that our decision seems almost instinctive. However, the collective answer is worth billions to the world's largest corporations.

On one hand, you have those dependent on credit and debit card transaction fees, including banks and the so-called toll-road operators - Visa, MasterCard) and American Express - strongly preferring that you opt for the latter.

On the other hand, merchants are hoping that cash or cash equivalents - including gift cards, checking accounts, and private-label store cards - are your preferred transaction method. The reason: These payment methods are generally cheaper for them to process. Recently, a consortium of merchants including Target, Wal-Mart, ExxonMobil, and Best Buy have banded together to form the Merchant Customer Exchange, or MCX: a mobile payment system owned and controlled by merchants.”

Read more>>

Monday 6 July 2015

Take a selfie to bank: MasterCard testing facial recognition smartphone app


From Al Arabia News –

“MasterCard is testing a security app that uses facial scans and recognition technology to approve payment for purchases made with a smartphone.

In the trial, the U.S. multinational financial services giant will have users hold their phone up as though taking a selfie to approve transactions.

In an interview with CNN Money, MasterCard's president of enterprise security solutions, Ajay Bhall, said “the new generation, which is into selfies ... I think they'll find it cool. They'll embrace it."

Read more>>

 
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