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September 1, 2023
On the wires
Credit Card Companies Urged by Senators to Cancel Plan to Raise Swipe Fees
Bloomberg
"Senators are urging credit card giants Visa Inc. and Mastercard Inc. to cancel plans to raise their swipe fees charged to retailers and used reports on the plans to champion their bill to force competition in the industry."
August 30, 2023
On the web
Visa, Mastercard Prepare to Raise Credit-Card Fees
WSJ
"Visa and Mastercard are planning to increase fees that many merchants pay when they accept customers’ credit cards. The fee increases are scheduled to start in October and April, according to people familiar with the matter and documents viewed by The Wall Street Journal. Many of the increases are for online purchases." [Subscription Required]
IDEX Biometrics Payment Card Solution Fully Certified by Mastercard
EIN News
"IDEX Biometrics has successfully completed the full Mastercard certification and received Conformity Compliance Statement (CCS) for its IDEX Biometrics Payment Card solution1...More than 15 global and regional card manufacturers and resellers have already selected the IDEX Biometrics certified payment card solution, as they respond to the increasing demand from banks and fintechs for biometric payment cards."
August 25, 2023
On the web
Mastercard Ends Binance Card Partnership in Latest Blow to Crypto Giant
CNBC
"Mastercard will no longer offer Binance-branded cards in Latin America and the Middle East, which let customers user their crypto to purchase goods, Binance said Thursday."
August 18, 2023
On the wires
Mastercard and Riskified New Integration Combines Fraud Insights to Drive Ecommerce Revenue Growth and Profitability for Global Merchants
Business Wire
"Riskified, a leader in ecommerce fraud and risk intelligence, today announced an enhanced partnership with global payments leader Mastercard, that will improve the ability of businesses across the globe to grow online revenues and profit while mitigating the risk of fraud and chargebacks."
August 17, 2023
On the web
Mastercard: Is Safe the New Sexy? CBDCs, Trust and the Evolution of Money
Mastercard
"Central banks around the world are experimenting with issuing these digital currencies to complement traditional payments, both the physical version in your wallet and the online version in your banking app. In fact, 93% of central banks are engaged in some form of work on CBDCs, and four retail CBDCs are already in full live circulation, according to the Bank for International Settlements."
August 15, 2023
On the web
Launch of Mastercard Strive India Aims to Enable Small Businesses to Succeed in the Digital Economy
Mastercard
"Mastercard today announced the launch of Mastercard Strive India, which will bring together an existing body of philanthropic work and take it forward, aiming to enable 5,00,000 small businesses to succeed in the digital economy by 2025."
August 14, 2023
On the web
Mastercard to Purchase a Minority Stake in MTN’s $5.2B Fintech Business
TechCrunch
"Mastercard has agreed to purchase a minority stake in the fintech division of MTN Group, Africa’s largest cellphone provider, which it values at $5.2 billion."
August 10, 2023
On the web
Kenya’s Lipa Later Partners Mastercard to Drive BNPL Solutions in Africa
Disrupt Africa
"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."
July 27, 2023
On the wires
Mastercard Moves to Ban Cannabis Purchases on its Debit Cards
Reuters
"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."
July 24, 2023
On the web
Mastercard Introduces a Fast, Safe and Cost-Effective Solution for Businesses to Accept Virtual Card Payment
Mastercard
"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."
July 18, 2023
On the web
Visa, Mastercard Hit With Antitrust Suit Over Credit Card Fees [Block]
Bloomberg Law
"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."
July 7, 2023
On the web
Virta, Mastercard and Worldpay from FIS Enable Card Payments for All EV Charging Stations in Europe
Mastercard
"...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 Launches New AI Real-Time Anti-Fraud Tool in UK
SiliconANGLE
"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."
June 29, 2023
Top Post
Mastercard Launches Subscriptions Control Solution
Mastercard
"Joining forces with Subaio, Mastercard now offers simple, secure way to identify and unsubscribe from recurring payments via banks’ trusted apps and online servicing"
June 28, 2023
On the web
Euronet to Increase Visibility for Its Ren Payments Platform in Latin America and the Caribbean Through Mastercard Engage and Fintech Express Programs
EIN News
"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."
June 21, 2023
On the wires
Pay Like a Local: Alipay and Mastercard Offer International Travelers Another Convenient Way to Make Cashless Payments in China
PR Newswire
"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."
Mastercard Launches Global Plan to Recycle Credit Cards
Reuters
"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."
June 9, 2023
On the web
Visa, Mastercard Split on Open Banking
CFO Dive
"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."
On the wires
Visa, MasterCard Fight Off New UK Mass Actions Over Fees for Now
Reuters
"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."
May 26, 2023
On the web
Mastercard’s Crypto Head Stresses Security, Simplicity for Blockchain’s Full Potential
CryptoSlate
"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."
On the wires
UniCredit and Mastercard Expand Payments Partnership
Business Wire
"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."
May 23, 2023
On the web
The Future of Payments (Mastercard)
Mastercard
"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."
May 17, 2023
On the web
Mastercard Ramps Up Fraud Protection for eCommerce Merchants by Integrating Vesta Solutions into Mastercard Payment Gateway Services
Mastercard
With merchants estimated to suffer more than US$48 billion in eCommerce fraud globally in 2023 – 22% of that in Asia[1] – 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.
May 8, 2023
On the web
Your Real-Time Guide to Real-Time Payments (Mastercard)
Mastercard
"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."
May 2, 2023
On the web
Mastercard to Eliminate First-Use PVC Plastics From Payment Cards by 2028
Eco-Business
"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."
May 1, 2023
On the web
Mastercard Expands Crypto Foothold With Crypto Credential Services
TokenPost
"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."
April 28, 2023
On the web
Surging Cross-Border Growth Helped Mastercard Beat Q1 Estimates
Insider Intelligence
"“Resilient consumer spending” and the cross-border travel recovery helped Mastercard beat first quarter forecasts, per its earnings release. The takeaways..."
April 27, 2023
On the web
Mastercard Faces DOJ Antitrust Probe Over Debit Practices
Yahoo Finance
"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."
April 25, 2023
On the web
EthSwitch, Ethiopia’s National Payment Switch, Partners with MasterCard to Expand Access to Local, Cross-Border Payments
BitcoinKE
"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."
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