A Mastercard joint venture (JV) entity received formal approval from the People’s Bank of China (PBOC) and the National Administration of Financial Regulation (NAFR) to begin domestic bank card clearing activity in China. The JV entity, Mastercard NUCC Information Technology (Beijing), has established standards, rules,...
Mastercard has formed a multi-year partnership with live entertainment company Live Nation. This partnership aims to provide exclusive benefits and VIP experiences for Mastercard cardholders in 19 geographies across Europe and Asia, beginning Jan. 1, the companies said in a Thursday (Nov. 2) press release. Through this collaboration,...
Artificial intelligence (AI) is seemingly everywhere, while the macroeconomic environment is constantly in flux. With those things in mind, Mastercard has expanded its consulting business to include practices dealing with AI and economics, the payments giant announced Monday (Oct. 23), while also enhancing Digital Labs, its business transformation service....
Mastercard has chosen tokenized assets solutions company company Fluency to help it speak the language of CBDCs. The collaboration, announced Friday (Aug. 18), is designed to capitalize on rising interest in central bank digital currencies (CBDCs), and puts Fluency in the company of other Mastercard...
New payment flows and Click to Pay transactions surged for Mastercard in the second quarter of 2023 as consumers and businesses continued to turn to digital channels as their spending remained buoyant. Earnings materials from the company detail that global gross dollar volumes swelled by 12% to $2.3 trillion. In...
Mastercard has told payment processors and banks to stop allowing marijuana transactions on its debit cards. Following cease-and-desist letters sent by Mastercard last week, companies that facilitated PIN debit payments for cannabis have been attempting to provide alternatives to the dispensaries that were using them,...
Mastercard has launched a solution designed to help businesses implement secure digital account opening. The company’s enhanced Open Banking for Account Opening provides account owner verification and identity insights in a single application programming interface (API), helping financial institutions and FinTechs in their digital account...
Mastercard has unveiled a number of updates to its “Digital Doors” small business program. Among these new features are a marketing hub platform and new partnerships, the company said in a Tuesday (May 2) news release. Timed to coincide with Small Business Month, the rollout...
Mastercard is cooperating with an antitrust investigation by the U.S. Department of Justice (DOJ). The firm received a Civil Investigative Demand (CID) from the DOJ Antitrust Division in March and is cooperating with the investigation, Mastercard said in its quarterly report released Thursday (April 27)....
