Mastercard

Payments firm announces leadership changes; the bank will place restrictions on fossil fuel lending while adding to sustainable projects.

Mastercard will expand its European Technology Hub in Dublin over the next three to five years, as the card network plans to create more than 1,500 tech jobs at the site.

London mobile point of sale fintech SumUp has launched a prepaid business Mastercard to its line of small business products.

Mastercard Inc. won approval to set up a bank card clearing business in China, gaining access to a $27 trillion payments market as part of the nation’s financial opening, though more regulatory steps will be required.

Higher rates are looming for transactions on e-commerce sites, while merchants in certain services categories, such as real estate and education, will see fees decline, according to a document Visa sent to banks.

Competition between hundreds of national and global payment systems forces everybody to continually adapt, up their games, culling weaker and underperforming systems and inviting the search for better mouse traps, says Intrepid Ventures' Eric Grover.

The bank raised its return-on-equity goals, based mostly on cost cuts and its core trading business; the Fed did raise the rate it pays on bank reserves.

The card networks' single "click to pay" button — an implementation of Secure Remote Commerce — is drawing some negative attention from merchant groups and independent networks that see it as a way to steal volume from alternative payment providers.

Progress in the trade war is welcome news for Mastercard’s ambitions in China, though the coronavirus jeopardizes the rosy outlook.

Mastercard will financially back Indian merchant commerce platform Pine Labs' embrace of multi-channel installment financing as a payment option in addition to cards.