Mastercard

America’s largest lenders made an epic mistake a decade ago when they cashed out of Visa and Mastercard through initial public offerings, says Chenault, who will step down in February as CEO of American Express.

Mastercard Inc. will hire 470 people as the world’s second-largest payments network expands its technology hub in New York City.

With the wide-scale adoption of mobile phones, and the use of NFC and QR codes for payments, the card brands most likely see a threat to their business model and, in a defensive move against potential disruptors, are wisely embracing the spirit of mobile, writes Jeremy Gumbley, CTO at Creditcall.

Jeanne Tisinger spent three decades working at the CIA, where her most recent position was deputy director overseeing the agency’s physical and cybersecurity and information technology spanning more than 100 countries.

The chairman of the House Financial Services Committee says he won’t seek reelection next year; CME Group hopes to launch a contract by yearend.

Blockchain is a bigger opportunity for business transactions than consumer transactions, according to Mastercard president and CEO Ajay Banga, who is poring over the technology to build use cases for corporate users.

Some credit unions are beginning to offer payment services via wearable technologies, but many say it will take further declines in the pricing of those items before they are widely accepted by consumers or financial institutions.

The move creates more room for developers to work on new payment types and build additional use cases.

The heat will now be on card networks to reassure consumers of card security through other methods, during the ongoing barrage of data breaches that could undermine consumers’ confidence in cards.

In a surprise move, the Supreme Court will decide whether Amex may bar merchants from steering customers to less expensive card networks. The card issuer will have to prove the consumer gain from its practices outweighs the merchant pain.

Same-day ACH debits rolled out last month, a year after same-day credits, cutting processing time for these payments from a couple of days to a few hours — but for many emerging use cases, that’s not fast enough. And debit is filling the void.

The EMV liability shift for gas pumps was postponed to 2020 last year, but cobranded fleet cards carrying the Visa or Mastercard logos still face the same counterfeit card fraud risks as any other payment card when paying for fuel away from the pump, such as at a truck stop convenience store's cash register.

Mastercard will invest $750 million in India in the next four to five years by continuing to acquire companies there, CEO Ajay Banga said this week.

Competition between card networks, tech titans Facebook and Google, Chinese fintech proxies Paytm and Hike, and M-Pesa will be fierce, and offer signs how other large emerging payments markets may evolve, writes Eric Grover, a principal at Intrepid Ventures.

Mastercard is unveiling an anti-fraud tool that’s been in development for more than three years, bringing a new way to pinpoint cards and accounts at the highest risk of fraud following data breaches.

The slow and difficult EMV migration has slowed major adoption of contactless cards, but there are signs that momentum may be turning around.

CB Bank will distribute contactless Mastercard credit cards to consumers and work with local merchants to upgrade point of sale technology.

Consumers and merchants in a digital ecosystem are changing the way people interact with each other and machines, changing payments and requiring an updated approach to security, according to Mastercard.

Mastercard is setting up a temporary store with internet-connected windows and mirrors enabling consumers to explore and pay for fashion items with their smartphones.

As long as we can create enough trust between the parties involved in a payment transaction, the system works, writes Francis Limousy, principal adviser for UL Transaction Security Advisory Services.