Mastercard

As Mastercard Installments nears launch, the card network is lining up tech partners to connect issuers to its buy now/pay later ecosystem.

The card brands have blocked Russia's large banks from their networks in response to the Ukraine invasion, a move that may dramatically limit retail transactions and cash availability at ATMs.

Mastercard said it will hire more than 500 young professionals this year as it expands its data and services unit, an effort that will include launching consulting practices focused on cryptocurrencies and open banking.

Michael Miebach told analysts that the card network expects earnings growth despite the economic impacts of the omicron variant and shipping delays. Mastercard does not have as contentious a relationship with the e-commerce giant as Visa does, he said.

A new service speeds payments by using artificial intelligence to predict which buyers are most likely to pay.

The card network is bringing Verizon into its innovation lab to turn more phones into payment acceptance devices and use the growing number of consumer gadgets and digital assistants to better verify consumer identities.

The card brand has been pitching itself as a testing ground for central bank digital currencies, a payment portal for stablecoins and — most recently — an accelerator for startups.

Startups focused on crypto and digital assets will now be able to join Mastercard’s Start Path program, which gives fledgling companies access to the network’s executives and technology to help them grow, Mastercard said.

The bank has agreed to act as a payment agent for the card brand's Track BPS to sign up participating businesses in the U.K. and Europe.

The Reserve Bank of India says the card brand failed to comply with a requirement to store transaction details locally. The handling of payment information has become a point of contention between the Asian nation and American firms.