"Kenyan startup Lipa Later has partnered Mastercard to drive financial inclusion and expand Buy Now, Pay Later (BNPL) solutions in Africa, starting with Kenya and expanding to Rwanda, Uganda, and Nigeria."
"Mastercard has told financial institutions to stop allowing marijuana transactions on its debit cards, dealing a blow to an industry already on the fringes of the financial system in the United States."
"Today, Mastercard announces the launch of Mastercard Receivables Manager, a new, automated solution that streamlines the way businesses accept and process virtual card payments. The innovation complements Mastercard’s virtual card platform as the company provides choice in payments to players across the ecosystem and accelerates the digitization of B2B transactions across buyers and suppliers."
"Visa Inc. and Mastercard Inc. are facing a new antitrust lawsuit that alleges the credit card companies conspired to vastly overcharge the Square payment platform, causing higher retail prices paid by consumers."
"...Virta and Mastercard announced the launch of the new Virta Payment Kiosk solution, setting safety and reliability standards for unmanned outdoor card payment solutions for EV charging. In collaboration with Worldpay from FIS, the new solution brings seamless card-based payments to existing and new charging stations in Europe."
"Mastercard Inc. today announced that it has teamed up with nine British banks to combat consumer fraud using a new artificial intelligence solution that can detect scams in real-time and protect customers before money leaves the victim’s accounts. Nine of the biggest banks in the United Kingdom including Lloyds Banking Group Plc, Halifax, Bank of Scotland Plc, NatWest Group Plc, Monzo Ltd. and TSB Banking Group Plc joined Mastercard to use the AI system to catch fraudsters and prevent payment scams."
"Joining forces with Subaio, Mastercard now offers simple, secure way to identify and unsubscribe from recurring payments via banks’ trusted apps and online servicing"
"Euronet, a leading global financial technology solutions and payments provider, today announced it is joining the Mastercard Fintech Express and Mastercard Engage programs in Latin America and the Caribbean (LAC), which connect fintech businesses with qualified service providers and accelerate the launch of new card programs."
"With the resumption of travel and tourism to China in full swing, Mastercard and Alipay, China's leading digital open platform under Ant Group, today announced the launch of a new payments option that provides international arrivals to China with another simple and secure way to go cashless when visiting the country."
"Payments company Mastercard on Wednesday launched a global project to recycle credit and debit cards as part of a plan to save the billions of cards in circulation across the industry from landfill."
"In the rivalry between the two biggest U.S. card companies, Mastercard is betting on the rise of the open banking trend while Visa is less persuaded it will take off."
"Global payments processors Visa and Mastercard have fought off a new set of lawsuits over fees charged to retailers, with a London tribunal ruling on Thursday that the proposed collective cases cannot proceed for now."
"Mastercard firmly believes that crypto and blockchain technology can bring much more value to financial industries once it can solve the key issues of security and simplicity, Tech Crunch reported , citing the company’s EVP and head of crypto and blockchain Raj Dhamodharan."
"UniCredit and Mastercard today announce a global expansion of their payment partnership. The agreement sets the stage for the start of a strong partnership consistent with the UniCredit Unlocked strategy. This is the first time any large commercial bank has put in place a single card multi market strategy of this scale in Europe."
"By the end of the decade, we will witness significant innovations that will reshape commerce and usher in “the next economy." The transformative changes ahead include a reimagining of money, new ways to exchange value, intelligent experiences that cut across physical and digital environments, and elevated principles of inclusivity and sustainability changing how we design, build and deliver products."
With merchants estimated to suffer more than US$48 billion in eCommerce fraud globally in 2023 – 22% of that in Asia – Mastercard today announced the expansion of its partnership with Vesta, the global leader in payment fraud protection. Building on the two firms’ existing fraud detection collaboration, Mastercard will be integrating Vesta’s iron-clad Payment Guarantee™ and Payment Protect risk scoring solution into its Mastercard Payment Gateway Services (MGPS) platform. Starting in the second half of 2023, MPGS customers in the Asia Pacific region will be given optional access to both fraud fighting solutions which would offer total protection for their eCommerce transactions and take their cost of fraud to zero.
"For the last century or so, cash and checks have been the methods of choice for doing business, although more recently, electronic bank transfers have allowed us to make payments directly from our bank accounts instead. But even today, checks can still take a day or longer to clear, and the speed of electronic bank transfers are dependent on a country’s banking infrastructure. Traditionally, they have been processed in large batches once a day or several times a day and didn’t process electronic payments at all at night or on weekends."
"Mastercard today announced it is accelerating efforts to remove first–use, PVC plastics from payment cards on its network by 2028. This initiative further reinforces the company’s sustainability commitments and scales the accessibility of more sustainable card offerings for consumers seeking a way to reduce the environmental impact of their wallet."
"Mastercard has launched a new service called "Mastercard Crypto Credentials," which allows banks and other financial institutions to store and verify customers' digital assets, including cryptocurrencies. The service aims to reduce the risk of fraud and enhance security in cross-border transactions involving digital assets while helping boost the blockchain industry's credibility."
"“Resilient consumer spending” and the cross-border travel recovery helped Mastercard beat first quarter forecasts, per its earnings release. The takeaways..."
"Mastercard Inc. said the US Department of Justice is investigating whether the company has acted in an anticompetitive manner in its debit-card business, a signal that the agency has widened a probe that previously centered on rival Visa Inc. Mastercard said it received a civil investigative demand from the department last month seeking documents regarding a potential violation of certain sections of the Sherman Act, a sweeping law meant to protect competition."
"MasterCard has entered into a Memorandum of Understanding (MoU) with EthSwitch, the national payment switch of Ethiopia, to facilitate the implementation and widespread adoption of digital payment services by financial institutions throughout the country. According to a statement released in April 2023, MasterCard said the partnership shall enable EthSwitch to further expand the accessibility and availability of digital money transfers by utilizing MasterCard Send, a platform that enables instantaneous domestic and cross-border money transfers."
"Today, Mastercard introduced Cross-Border Services Express, a new tool that enables financial institutions to seamlessly set up international payments for their customers, including consumers and small and medium-sized enterprises (SMEs), which have a strong need for improved cross-border payment capabilities. Increasingly, consumers and businesses are looking for ways to send money or pay vendors across the globe quickly and securely. Cross-Border Services Express delivers that completely in a digital-first experience."
"Transcard, a global leader in payment and data technology, today announced that it has successfully integrated its family of embedded payment solutions, called SMART Suite, with one of Mastercard's innovative commercial offerings, Track Business Payment Service. Mastercard Track™ Business Payment Service will facilitate the exchange of data connected to payments made via Transcard’s SMART Suite. Mastercard Track™ Business Payment Service is a global open-loop commercial network that simplifies and automates the exchange of payments data between buyers and suppliers."
"Global payments processors Visa and Mastercard are fighting a new set of lawsuits over fees charged to retailers, with their lawyers telling a London tribunal on Monday that the proposed collective cases serve no purpose. The two firms already face a litany of lawsuits in London over so-called multilateral interchange fees, which retailers pay when consumers use a card to shop. Visa and Mastercard are each being sued by hundreds of claimants at London's Competition Appeal Tribunal, which is currently managing the various cases together."
PR Newswire Asia
"Distinguished homegrown culinary group LUBUDS and Mastercard today announced a new partnership that will see the two companies co-creating tantalizing offerings for diners as Hong Kong's economic recovery gathers pace, putting its world-class culinary reputation back on the map. At an exclusive launch event held on the "LUBUDS ON THE SEA" boathouse overlooking Victoria Harbour, executives from the two companies explained why they've formed an alliance that will leverage Mastercard's multisensory marketing prowess, anchored in its enduring priceless platform, to whet the appetite of the region's food connoisseurs."
"A new fintech Sibstar has launched to reduce financial vulnerability for people living with dementia. Founded by Jayne Sibley (pictured), Sibstar has a debit card and app that allows those with dementia to spend money safely. It has been in beta testing for the last nine months in a pilot of 65 people in the UK who are affected by dementia and their families. The company was launched in partnership with the Alzheimer’s Society and Mastercard."
"Global payment provider Mastercard is launching a stablecoin digital wallet integration with the Australian stablecoin platform Stables. Mastercard and Stables on March 20 announced a collaboration to allow retail customers in the Asia-Pacific (APAC) region to spend their stablecoins anywhere Mastercard is accepted."
Checkout.com, a global payments solutions provider, and Mastercard announced that they will make Mastercard Send™ available to more Checkout.com customers in the Asia Pacific region, starting in Australia and Hong Kong SAR later this year. The Send™ service which powers real-time payments for consumers, gig workers, content creators and organizations of all sizes, wherever they interact worldwide is already available in Singapore.
"Mastercard has developed a new pilot service with Service NSW and alcohol delivery service Tipple to protect customers identity information and ensure age verification with the purchase of age restricted goods online. This move comes as Mastercard makes more moves in the virtual commerce industry and grows its presence in the metaverse."