PURCHASE, N.Y. - It's not often that someone is happy about turning 40, but then it also isn't often you find someone for whom a credit card would be an inappropriate gift.
MasterCard Worldwide is marking its 40th birthday following its initial public offering and with the launch of a new corporate brand.
Founded in 1966 as the Interbank Card Association, by 1968 the company began forming its global network with banks outside of the United States. In 1969, ICA acquired exclusive rights to the "Master Charge" name and the trademarked interlocking circles, and in 1979 the company was renamed "MasterCard" in part to reflect its international markets. In 1983, MasterCard introduced the industry's first hologram security device.
MasterCard may be best known now for an ad campaign it launched in 1997 called "Priceless," a theme so well known it is often parodied. As of Sept. 30, 2006, the company's customers had issued 818 million MasterCard cards, an increase of 12.6% percent over the same period in 2005.
