When Mastercard launched Send in 2015, the focus was on making it easy to move money quickly between businesses and people using the debit card as the proxy. Send doesn’t just work with Mastercard branded cards, either, Jess Turner, executive vice president of digital payments at...
To help make more informed authorization decisions, KeyBank is turning to Mastercard Decision Intelligence. The system, which uses artificial intelligence (AI), will allow KeyBank to increase the accuracy of real-time approvals of genuine transactions and will help enhance the cardholder experience, Mastercard said in an announcement. “We...
Microsoft Pay announced that it now supports Masterpass by Mastercard. Consumers can now use their Microsoft account for fast and secure checkouts at retailers that accept Masterpass without needing to reenter their information. “We are deeply committed to powering a secure and optimized shopping experience...
Since the migration to EMV in the largest card market in the world (the U.S. in October of 2015), the incidences of counterfeit card fraud at chip-enabled merchants have fallen sharply — some 76 percent, as reported by card networks. Once cards became significantly harder to clone, fraudsters took their...
An outage caused Mastercard customers around the world to be blocked from using their credit cards. It was not clear what caused the outage, which led to a number of complaints to banks and other card issuers, from customers across much of Europe and the...
As the second payment services directive (PSD2) is set to take effect in Europe next year, Mastercard wants to test out its fingerprint-scanning cards in the U.K. PSD2 sets out the requirements for SCA, an identity verification procedure that leverages multifactor authentication (MFA). SCA pulls in...
To verify payment cards at the point of sale (POS), Mastercard is looking into blockchain technology. In a filing with the U.S. Patent and Trademark Office (USPTO), the company said it has devised a process to send and retrieve payment credentials through a “publicly accessible...
In the first service offered by Mastercard after integrating Vocalink last year, and with an eye on real-time payments, Mastercard Send is launching in the United Kingdom. Mastercard said in a release on Wednesday (June 6) that the payments service will make it possible for various...
To deliver routing, pricing and payment automation for freight forwarders, Mastercard is partnering with Stargo. With Mastercard’s commercial payment solutions and Stargo’s price optimization engine, freight companies can benefit from a more efficient procure-to-pay process, Mastercard announced at Money20/20 Europe. “Mastercard is committed to helping businesses pay and...
