Mastercard

Digital technology and the coronavirus recovery will dramatically alter payments in the year ahead, but the scale and benefits of networks will survive, Eric Grover of Intrepid Ventures contends.

Payments processors are keeping a portion of payments as a reserve against potential disputes between cardholders and merchants. Small-business owners say the practice is eating into their profits.

About 78% of Mastercard’s European transactions are now contactless, and the company expects the shift in payment choice will be permanent.

Mastercard and Judopay have teamed up to enable mobile payments through The Pharmacy Centre.

In line with the other major card brands, Mastercard is extending its EMV liability shift at gas pumps to April 2021. It is also launching a data-driven fraud protection tool for fuel merchants who have not completed their upgrade to chip-card EMV pumps.

Mastercard Inc. is starting to see signs of improvement in U.S. consumer spending as cities and states ease restrictions on social distancing.

Mastercard is adding to its global network of innovation labs by partnering with Enel X, a mobility and smart-city startup, to open a center in the Israeli fintech hub of Be'er Sheva.

In the works for months, Mastercard Track Business Payment Service rolls out Tuesday with the goal of improving efficiency around corporate buyer and supplier payments at a time when these processes are uniquely constrained by the coronavirus pandemic.

Mastercard has promoted divisional president Mark Barnett as its new European president to succeed Javier Perez, who is retiring at the end of the year.

Fears of catching coronavirus during the payment process has given a sharp boost in usage and awareness of contactless payments since the pandemic began, according to a new survey from Mastercard.