Tagged: mastercard

Mastercard CEO Ajay Banga Explains Why Company Withdrew from Facebook-led Stablecoin and Payments Project Libra

Ajay Banga, CEO at payments giant Mastercard, recently talked about why his company decided to leave the controversial Facebook-led Libra global payments and stablecoin project. Banga claims his firm doesn’t quite understand Libra’s business model. He told the Financial Times: “When you don’t understand how… Read More

Mastercard Invests Undisclosed Amount in AI-enhanced Identity Authentication Firm, Trust Stamp

Payments giant Mastercard has reportedly invested in artificial intelligence (AI)-enhanced identity authentication firm, Trust Stamp. Trust Stamp is a graduate of Mastercard’s 2018 Start Path accelerator program. The two firms announced their first collaborative effort involving a secure non-PII authentication network for offline and internet-based… Read More

Denmark’s Smart Payment Card Issuer Pleo Introduces New Credit Card by Partnering with Mastercard, JPMorgan

Denmark-headquartered Pleo, a smart payment card issuer, has confirmed that it’s introducing a new credit card by teaming up with Mastercard and J.P. Morgan, the largest bank in the US. Pleo’s management says that the new product offering is expected to replace the firm’s older… Read More

Following $10 Million Funding Round, Danish Fintech Cardlay Partners with Mastercard

Cardlay, a Danish Fintech company, provides a white-label frontend for banks and their corporate clients. Cardlay helps companies automate business processes, including applications, integrated and real-time travel expense management, and more. Last October, Cardlay raised $10 million in funding while announcing a partnership with Eurocard…. Read More

Mastercard Announces New Global Intelligence & Cyber Center in Vancouver

Mastercard announced on Thursday its new Intelligence and Cyber Center. The center, which is located in Vancouver, Canada. is expected to expand the multinational financial services giant’s Canadian presence by creating and maintaining a total of 380 jobs, and accelerate innovation in digital and cybersecurity,… Read More

India-Based Merchant Commerce Platform Pine Labs Scores Investment From Mastercard

Pine Labs, an India-based merchant commerce platform, has received a significant investment from multinational financial services giant Mastercard. According to Pine Labs and Mastercard, the investment is part of a partnership to continue the rapid growth of convenient electronic payment options for consumers across the… Read More

Visa’s UK-Wide “Access to Cash” Program to Provide Retailers a Fee for Handling OTC Cashback Transactions

Payments giant Visa is reportedly set to take its “access to cash” program industry-wide by teaming up with several financial institutions, in order to provide high street retailers in remote areas a fee for handling over the counter (OTC) cashback transactions. The launch of the… Read More

SoFi Joins Forces With Mastercard to Offer Suite of Products & In-Person Experiences to Nearly One Million Members

Fintech unicorn SoFi announced on Thursday it has formed a new partnership with offer a suite of products and in-person experiences to its nearly one million SoFi members. According to SoFi, the partnership will initially focus on the SoFi Money debit card, for which Mastercard… Read More

Mastercard Announces Acquisition of AI & Data Analytics Solutions Provider RiskRecon

Mastercard (NYSE: MA) recently announced it has entered into an agreement to acquire RiskRecon, a provider of artificial intelligence and data analytics solutions to support companies in protecting their cyber systems and infrastructure. Mastercard reported that with RiskRecon’s pioneering scanning and evaluation technologies, organizations may… Read More

Mastercard & Doconomy Announces Extension of Collaboration to Combat Climate Change

Credit card giant Mastercard and fintech startup Doconomy announced on Tuesday they have extended their collaboration in order to combat climate change. The extension allows the ability for any Mastercard issuer to offer their cardholder the ability to track and understand their carbon footprint based… Read More

PayPal & Mastercard Announces Expansion of Instant Transfer to Singapore & Europe

PayPal and Mastercard recently announced the expansion of instant transfer service, Mastercard Send, to Mastercard cardholders in Singapore and a number of European countries. The duo claims that the service has been successful in the U.S. According to PayPal and Mastercard, Mastercard Send is described… Read More

Revolut and Mastercard Join to Help Repair Schools in Mozambique

Leading digital bank Revolut is partnering with Mastercard to help repair four schools destroyed by  Cyclone Idai in Mozambique. The charitable project is also in support of Universal Children’s Day. According to Revolut, customers are able to round up their spare change and donate the… Read More

Giant Payments Processor Mastercard’s Experience Centre to be Introduced at Singapore Fintech Festival

Giant payments processor Mastercard will be revealing its new experience center at the Singapore Fintech Festival, an event where clients and their partners to discuss business ideas, potential opportunities for working cooperatively to develop new products and for present innovative technology solutions. The Mastercard Experience… Read More

UK-based Merchant Services Platform Pollinate Goes Live After Receiving £60 Million in Funding from Mastercard, RBS, Others

London-based Pollinate, a company that offers a merchant services platform, has reportedly launched after receiving £60 million (appr. $77.6 million) in investments. The company’s financial backers included EFM Asset Management, Mastercard, Motive Partners, and the Royal Bank of Scotland (RBS). Founded in 2017, Pollinate provides… Read More

Largest US-based Retail Food Group Purchasing Organization to Test Mastercard’s Blockchain Tech to Streamline Operations

Topco Associates, the largest US-based retail food GPO (Group Purchasing Organization) and the third largest private firm in Illinois, is preparing to test Mastercard’s blockchain-based technology to streamline its operations. Topco is planning to pilot a traceability platform created by Envisible, a logistics company. According… Read More

Revolut to Soon Offer Mastercard Credit Cards to US Customers

Revolut has partnered with Mastercard to issue credit cards using the global network. According to a release from Revolut, the new deal will reach 210 countries and territories with he first cards hitting the US by the end of the year. Revolut is a UK… Read More

UK’s Royal Mint Partners With Mastercard to Launch £18,750 Gold Payment Card

UK’s Royal Mint has developed a solid gold payment card that’s priced at £18,750 (appr. $23,460). Royal Mint is a government-owned firm that is tasked with minting coins for the UK. The company noted that it partnered with Mastercard and payments technology firm Accomplish Financial… Read More

PayPal Exits Facebook’s Controversial Stablecoin Project Libra

Paypal, one of the founding members of the Libra Association, has exited the controversial stablecoin project.  Earlier, the Financial Times reported that the digital payments giant PayPal might be pulling out of the Facebook-led cryptocurrency project due to regulatory issues. This afternoon, WSJ.com has confirmed… Read More

Report: Prominent Libra Association Members Now Hesitant About Officially Endorsing Facebook’s Currency Project

Officials at Visa, Mastercard, PayPal, and Stripe are reportedly hesitating now about officially signing on as members of the Libra Association, a governance consortium assembled by Facebook to advise on its proposed private, in-app currency system, Libra. The 28 current members of the Libra Association are reportedly being asked… Read More

Mastercard is Piloting Digital Payments for Garment Factory Employees With Levi’s and Marks & Spencer

Mastercard has announced the launch of a pilot program that involves helping garment factory workers transition from using cash to receiving digital wage payments. Sue Kelsey, executive vice president, prepaid solutions, Mastercard, stated in a press release: “At Mastercard, our vision is to ultimately build… Read More

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