The current best-in-class method of payment for a ride on a subway in any American city works just fine – until it doesn’t. Loading funds onto a prepaid card that opens the turnstile once scanned, swiped or inserted works terrifically well – until the customer forgets to...
Mastercard plans to bring cashless transit solutions to more than 20 U.S. cities in the next few years, the company said on Friday (March 22). “From mobile ticketing to digitizing commuter cards and enabling contactless payments, Mastercard has already embedded its technology in 16 metro...
In the U.S. and worldwide, counterfeiting is a large, lucrative business worth between $1.2 trillion and $1.5 trillion annually, according to the International AntiCounterfeiting Coalition (IACC). Fake fashion items and accessories alone represent a $500 billion global business per year, but counterfeiting is much bigger...
In the quest to reduce false positives and chargebacks, and boost digital commerce for consumers, Mastercard is buying Ethoca. Johan Gerber, executive vice president of security and decision products, delves into the ways the newest deal rounds out data and AI acquisitions and leads to...
Token.io, the London and San Francisco-based open banking platform company, announced news on Wednesday (February 13) that Mastercard has chosen it to provide the connectivity layer for the payment company’s open banking hub. In a press release, Token said the hub connects merchants and retailers to financial...
Mastercard has named Paul Stoddart its new president of New Payment Platforms. Stoddart, who begins his new position on March 1, will oversee the development and integration of the company’s real-time payments capabilities beyond card-based solutions, including Vocalink account-based payments, the Homesend joint venture and Mastercard...
Brex has announced that it is partnering with Mastercard to issue the World Elite Mastercard for Business, offering an enhanced rewards structure and expanded suite of travel benefits. Started in 2017 by the founders of Brazilian payments processor Pagar.me, Brex’s investors include Y Combinator Continuity,...
Mastercard, the payments company, said late last week that it is still committed to operating in China. In a press release, Mastercard said that it is making every effort to secure the license to access the domestic Chinese market and confirmed it is in active...
Mastercard has announced that it is introducing new rules for merchants that offer free trials, requiring them to get cardholder approval when the trial ends before they start billing. “To help cardholders with that decision, merchants will be required to send the cardholder — either by...
