Mastercard

An investment firm that has been pressuring large companies to enhance disclosures said that its efforts at JPMorgan Chase, Wells Fargo, Bank of America and Bank of New York Mellon are gaining ground.

Mastercard's U.K. Pay by Bank service has been slow to get off the ground since its 2016 launch. But Mastercard predicts Pay by Bank will see significant adoption in 2020 due to the partnerships it has established with banks and processors, and the popularity of mobile banking among Britons.

Mastercard disclosed its gender pay gap for the first time on Monday, saying that its female employees worldwide make 7.8% less than the men. The company said it is working toward parity.

With the world gripped in panic over the rapid spread of the coronavirus — and the stock market falling in response — payments companies have been left to speculate on what it all means to their operations in an increasingly global economy.

JPMorgan would consider buying other businesses; collectors would be allowed to pursue debt past the statute of limitations, if they warn borrowers.

Mastercard wants to build confidence in open banking by addressing regulatory compliance, liability, and technology integration issues on behalf of its issuers and fintechs.

Michael Miebach was already a major cog in Mastercard’s digital transformation and dealmaking, a path that will take him to the company’s top job when current president and CEO Ajay Banga transitions to executive chairman at the end of the year.

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.

The payments industry is a hotbed of innovation, and many of its larger players are eager to claim patents on new developments.

The city would join San Francisco and Philadelphia among cities that prohibit stores and restaurants from only accepting electronic payments.

Even in mature markets, consumers may not feel very connected to their payment cards. This is making issuers more reliant on selling data-driven experiences over simple transaction processing.