15 of MasterCard's Hits and Misses in Digital Payments

Published August 1, 2014 3:18 PM

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Updated October 20, 2016 10:04 AM

1 Min Read

A Mastercard Inc. logo sits on a credit card in this arranged photograph in Moscow, Russia, on Tuesday, April 1, 2014. Visa Inc. and MasterCard Inc. stopped processing cards for Bank Rossiya after the U.S. placed the lender on its sanctions list. Photographer: Andrey Rudakov/Bloomberg

Andrey Rudakov/Bloomberg

MasterCard is putting its digital payment efforts in the spotlight. The Purchase, N.Y. card network is also adding to the number of non-payment services it offers to digitally focused companies.(Image: Bloomberg News)

MasterPass

The MasterPass digital wallet, now live in 10 markets, is vital to MasterCard's strategy for securing its role in a payments industry that is rapidly moving past the plastic card.

A Bigger Web

The biggest growth for MasterPass came through a pact with the online service provider Web.com, which pushed the digital wallet out to "tens of thousands" of merchants. (Image: ShutterStock)

Staged Wallet Fee

MasterCard became the subject of some controversy with its creation of the "staged wallet" fee. The idea, revealed in a regulatory filing by eBay and PayPal last year, is to charge digital wallets a fee if they list themselves as the merchant of record. (Image: ShutterStock)

MoneySend

MasterCard shut down its MoneySend person-to-person payment service in 2012, despite indications that it was well regarded by consumers. The service was possibly retired to make room for more robust digital payment options. (Image: ShutterStock)

Startup Stops

MasterCard's earlier efforts to promote its programming tools hit a snag when its poster child, a startup called Paidpiper, stopped using the technology because it found it too restricting. (Image: ShutterStock)

MasterCard Inc. credit and debit cards are arranged for a photograph in Washington, D.C., U.S., on Wednesday, Jan. 29, 2014. MasterCard Inc. is expected to release earnings data on Jan. 31. Photographer: Andrew Harrer/Bloomberg

Andrew Harrer/Bloomberg

MasterCard's M&A

The card network has been growing its technology through acquistion. Its moves include buying C-Sam for mobile wallet technology and Truaxis to enter the deals space. (Image: Bloomberg News)

Weve

MasterCard's worldwide push includes its decision to be the first network to support the Weve mobile wallet initiative in the U.K.(Image: ShutterStock)

QR code concept

mipan/Getty Images/iStockphoto

QkR

QkR, pronounced "quicker," is MasterCard's system for making payments by scanning a QR code. It was first tested as a companion to Kinect, a camera-based hands-free controller for Xbox consoles. (Image: Thinkstock)

Google Glass

MasterCard is building payment capabilities for Google Glass, Google's wearable computing device. The headset can be used with MaserCard's QkR and MasterPass technologies.

Kaufman, Rebecca

ShopThis!

MasterCard's ShopThis! got some media attention for its inclusion in the iPad edition of an issue of Wired magazine. The product, which is built on MasterPass, lets consumers buy items directly from advertisements.

Simplify Commerce

MasterCard launched Simplify Commerce to enable smaller merchants to accept payments online and on mobile devices through a straightforward integration. (Image: ShutterStock)

Lab Work

QkR, ShopThis!, Simplify Commerce and other iniatives came out of MasterCard Labs, a research and development unit unveiled in 2010. MasterCard Labs was designed to speed product development through a team that could operate independently of the card network's other operations. (Image: ShutterStock)

A child looks into one of the giant piggy banks near the Millenium Bridge as MasterCard signage carpets the bridge to launch its "PayPass" cashless card system, in London, U.K., on Monday, Sept. 3, 2007. MasterCard are launching a 'Tap & Go' cashless payment system for purchases less than £10 starting in London this month. Photographer: Chris Ratcliffe/Bloomberg News Editors Note: EMBARGOED UNTIL 0001TUESDAY SEPT. 4

CHRIS RATCLIFFE/BLOOMBERG NEWS

Telco Pacts

MasterCard's work with telcos includes a partnership in Germany with Deutsche Telekom, Telefonica Deutschland and Vodafone. The participants are working with Trevica, a MasterCard-owned payment processing and technology company, to develop a single mobile payment platform for the region. (Images: Bloomberg News)

The American Express Co. logo, along with those of Visa Inc. and Mastercard Inc., are displayed in a shop window in New York, U.S., on Monday, April 15, 2013. American Express Co., the biggest U.S. credit-card issuer by purchases, named Edward P. Gilligan to become its president, effective immediately. Photographer: Scott Eells/Bloomberg

Scott Eells/Bloomberg

Network Pacts

MasterCard is working with Visa and American Express on a tokenization standard to protect card data in e-commerce. MasterCard also shares Visa's vision for using Host Card Emulation technology to speed the adoption of mobile payments at the point of sale. The network is also part of the Fast Identity Online (FIDO) Alliance. (Image: Bloomberg News)

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Revamping Rewards

MasterCard has made its rewards technology more flexible, enabling it to connect to third parties to flesh out the offers delivered through mobile wallets. (Image: Thinkstock)

Visa and MasterCard credit cards are arranged for a photo in Toronto, Ontario, Canada, on Thursday, May 21, 2009. Canada will introduce new disclosure and grace-period requirements for credit card issuers, Finance Minister Jim Flaherty said today, as pressure mounts on the government to bolster oversight of the industry. Photographer: Norm Betts/Bloomberg News

NORM BETTS/BLOOMBERG NEWS

What About Visa?

Visa has had its own share of hits and misses as it refined its digital payments strategy over the years. CLICK HERE to see our gallery on Visa. (Image: Bloomberg News)